Germany-based software group SAP said it agreed to sell its stake in data analytics firm Qualtrics International for $7.7 billion to a consortium led by Silver Lake and Canada Pension Plan Investment Board (CPPIB).
“At a purchase price of $18.15 in cash per share, the transaction corresponds to a Qualtrics equity value of approximately $12.5 billion on a fully diluted basis,” SAP said in a news statement.
SAP would receive $7.7 billion for its 71 percent stake in the customer survey software maker. In 2018, SAP bought Qualtrics for $8 billion and three years later listed it in New York at a valuation of nearly $21 billion in 2021.
Silver Lake, whose portfolio consists mostly of technology companies, currently holds 4.1 percent stake in Qualtrics.
Videogame software developer Unity Software and Alphabet’s self-driving technology firm Waymo are among the companies in Silver Lake’s portfolio.
