In 2018, SAP acquired Qualtrics for 8 billion dollars, on the eve of going public on the stock exchange. Two years later, SAP announced the resumption of operations on its subsidiary's stock exchange, but intends to hold most shares after the Initial Public Offering, Business Insider advances. The company specializing in cloud applications continues to play a very important role in SAP's strategy, especially in the Customer Experience area.
According to Christian Klein, CEO of SAP, We decided that an IPO could provide Qualtrics with a great opportunity to grow its experience in the management category, serve its customers, explore its own acquisition strategy and continue to train its best talent. However, he says that the company led by Ryan Smith remains one of the main research and development pillars of the group in its cloud strategy.
Although SAP has partnerships with all major cloud companies, such as Amazon's AWS, Microsoft's Azure and Google Cloud, which allow their customers to use their software solutions and databases in a cloud environment; Qualtrics collects customer feedback, helping SAP to improve its products, in what it considers to be a differentiating factor.
The German company will today reveal its final financial results report, having at the beginning of the month, in a first preliminary presentation, revealed revenues of 6.74 billion euros, a growth of 2% compared to the same period last year. The value of its shares also grew 16% compared to 2019.