It was less than two years ago since the German software giant SAP bought Qualitrics. The Provo Utah-based maker of experience management software, Qualtrics co-founded by CEO, Ryan Smith is the leader in its industry. Now, one of the European most prolific company is announcing its desire to take it public through an IPO in the United States.
“…We decided that an IPO would provide the greatest opportunity for Qualtrics to grow the experience management category, serve its customers, explore its own acquisition strategy, and continue building the best talent”
SAP CEO,Christian Klein said in a SAP press release 7/26/202
Nevertheless, the German company will remain the majority stakeholder of the newly formed Public traded Qualtrics. In addition, Ryan Smith will remain Qualtrics largest individual shareholder and the CEO of the new entity.
Still, this announcement less than two years after spending $8 billion to acquire Qualtrics, raises some concerns. Indeed, the announcement today probably means the journey hasn’t been exactly smooth. Nevertheless, from the press released the implication is that the move will offer Qualtrics more flexibility with customers and partners outside of its parent company. It appears to be a winning strategy for Qualtrics and a way out for SAP.
Read more: Press released
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