SAP is acquiring software maker Qualtrics for $8 billion
Summary
It also marks another blockbuster software deal and comes just two weeks after IBM announced plans to buy Red Hat for $34 billion, the industrys biggest ever acquisition.Qatalyst Partners, Frank Quattrones firm, advised Qualtrics even though Goldman Sachs and Morgan Stanley were the listed lead banks for the IPO.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.Qualtrics was founded in 2002 by brothers Ryan and Jared Smith and their dad, Scott, along with Stuart Orgill, who resigned from the board last year.Bill McDermott, CEO of German software giant SAP, addresses the media during the companys annual financial statement at its headquarters in Walldorf near Heidelberg, southern Germany, on January 24, 2017.
