Silver Lake and CPP Investments to acquire Qualtrics for $12.5 billion
Summary
Silver Lake and CPP Investments on Monday announced plans to acquire Qualtrics for $12.5 billion, marking the second time the survey software company has been bought in less than five years. Once the transaction is complete, Qualtrics will become a privately held company and its common stock will no longer be listed on public markets. Qualtrics gets most of its sales from subscriptions and also generates revenue from a research-on-demand option that existing customers can use to get feedback from "a curated group of respondents," and from professional services. "I couldnt be more excited for this step in our journey," Ryan Smith, who serves as the companys executive chairman, said in the statement. "Silver Lakes belief in our vision and their amazing track record of helping founders and management teams speaks for itself.
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