As the controlling shareholder of Qualtrics International Inc, SAP SE, accepted a $12.5 billion offer from a group of investors led by Silver Lake and the Canada Pension Plan Investment Board, the company announced on Monday that it would go private (CPPIB).
SAP accepted the consortium’s offer of $18.15 per Qualtrics share, noting that it would get nearly $7.7 billion for its ownership holding.
The German software giant decided that the offer was the best it could get, according to Reuters on Sunday. As a result, the deal, which is this year’s largest buyout led by private equity so far, was reached.
In order to see if a solution could be reached, Qualtrics said earlier this month that it will engage in exclusive negotiations with Silver Lake and CPPIB through March 15.
Currently, Silver Lake Partners owns 13.94% of Qualtrics.
For $8 billion, SAP acquired Qualtrics in 2018, and three years later the company went public in New York.
