SAP announces IPO of Qualtrics

Qualtrics co-founder Ryan Smith intends to become the company’s largest single shareholder © Getty Images

The German software giant SAP says it intends to float American subsidiary Qualtrics, which it bought for $8bn two years ago just days before the US company had itself planned to go public.

The acquisition of Qualtrics, which specialises in gathering and analysing customer experience data, was one of SAP’s largest deals, designed to strengthen its portfolio of cloud-based services.

The Walldorf-based group said it intended to remain Qualtrics’ largest shareholder, and that the US listing was designed to strengthen the company and help it expand beyond SAP’s customer base.

It added that Qualtrics co-founder Ryan Smith intended to become the company’s largest single shareholder.

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