Qualtrics to be acquired for $12.5B

Qualtrics, the?experience management?platform used by Uber, Coca-Cola, and Pfizer,?announced?it has accepted a?$12.5 billion all-cash offer?from two investment firms (Silver Lake and the Canada Pension Plan Investment Board).

The company, founded in 2002, provides software that assists businesses in gathering data and measuring how their consumers perceive their goods and services. Its shares traded generally above their $30 IPO price in its first year as a publicly-traded company, but?its market value?has dropped?from a high of $28 billion in early 2021 to roughly $5 billion by the end of 2022.

Current shareholders (including the German Big Tech firm?SAP), will receive $18.15 per share in cash under the terms of the deal, representing?a 73% premium?to the 30-day volume-weighted average price on January 25, 2023.

Qualtrics will become an independent,?privately held firm?again following the completion of the purchase. Subject to regulatory approval, the transaction is scheduled to completion in the second half of 2023.

The company has seen better days for sure, but perhaps this move will shake things up a bit.

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