SAP subsidiary Qualtrics files for IPO
Qualtrics is moving to the Nasdaq tech exchange. However, SAP intends to retain the majority of the shares.
Qualtrics has announced its planned initial public offering to Nasdaq in a mandatory filing with the U.S. Securities and Exchange Commission. Shares are expected to be issued for $20 to $24. This would give Qualtrics a valuation of $12 billion to $14.4 billion. Parent company SAP announced the move back in July.
SAP bought Qualtrics nearly two years ago for eight billion dollars. The company plans to retain its majority stake in the IPO. SAP stock benefited from the announcement: They were up 1.5 percentage points Tuesday morning.
Qualtrics offers a cloud platform where companies can organize and analyze customer feedback. This is intended to increase customer satisfaction. The company was founded in 2002.
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