SAP subsidiary Qualtrics files for IPO
Qualtrics moves to the tech stock exchange Nasdaq. However, SAP intends to retain the majority of the shares.
Qualtrics has announced its planned IPO on the Nasdaq in a mandatory disclosure to the US Securities and Exchange Commission (SEC). The shares are to be issued for 20 to 24 US dollars. This would give Qualtrics a valuation of twelve to 14.4 billion dollars. The parent company SAP already announced the move in July.
SAP bought Qualtrics almost two years ago for eight billion US dollars. The company intends to retain its majority stake in the IPO. SAP shares benefited from the announcement: It gained 1.5 percentage points on Tuesday morning.
Qualtrics offers a cloud platform on which companies can organize and analyze customer feedback. The aim is to increase customer satisfaction. The company was founded in 2002.
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