Menu
SAP splashes out $8B on SurveyMonkey rival, Qualtrics

SAP splashes out $8B on SurveyMonkey rival, Qualtrics

Vendor specialises in the collection and analysis of data

Bill McDermott (SAP)

Bill McDermott (SAP)

Credit: SAP

SAP has signed an agreement to acquire Qualtrics in a deal worth US$8 billion, snapping up the survey software vendor before its planned IPO.

Founded in 2002, Qualtrics specialises in the collection and analysis of data, competing directly with industry rival SurveyMonkey.

With the acquisition expected to close in the first half of 2019, the move comes as the business was preparing to go public, following plans to raise as much as US$495 million which would have instantly doubled its private valuation of US$2.5 billion.

“Together, SAP and Qualtrics represent a new paradigm, similar to market-making shifts in personal operating systems, smart devices and social networks,” said Bill McDermott, CEO of SAP. “SAP already touches 77 per cent of the world’s transactions.

“When you combine our operational data with Qualtrics’ experience data, we will accelerate the XM category with an end-to-end solution with immediate global scale.

“For Qualtrics, this introduces a dynamic new partner with the belief, passion and scale to bring experience management to millions of customers around the world.”

According to McDermott, the acquisition will allow SAP to bolster capabilities within the experience management space, positioning the software to more than 413,000 customers worldwide.

“The combination of Qualtrics and SAP reaffirms experience management as the groundbreaking new frontier for the technology industry,” McDermott added.

“SAP and Qualtrics are seizing this opportunity as like-minded innovators, united in mission, strategy and culture.”

Following the closing of the transaction, McDermott said Qualtrics “is expected to” maintain its leadership, personnel and branding, operating as an entity within SAP’s Cloud Business Group.

Ryan Smith will continue to lead Qualtrics, with the business expecting full-year 2018 revenue to exceed US$400 million, alongside a forward growth rate protection of greater than 40 per cent.

“Our mission is to help organisations deliver the experiences that turn their customers into fanatics, employees into ambassadors, products into obsessions and brands into religions,” said Ryan Smith, CEO of Qualtrics.

“Supported by a global team of over 95,000, SAP will help us scale faster and achieve our mission on a broader stage. This will put the XM Platform everywhere overnight.”

The XM Platform is used by over 9,000 enterprises worldwide, including more than 75 per cent of the Fortune 100.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags SAPsurveymonkeyQualtrics

Featured

Slideshows

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Reseller News has honoured the leading female front runners of the New Zealand ICT industry at the 2019 Women in ICT Awards (WIICTA) in Auckland. The awards recognised standout individuals across six categories, spanning Entrepreneur, Rising Star, Shining Star, Community, Technical and Achievement. Photos by Gino Demeer.

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA
Reseller News kicks off awards season in 2019 with Judges' Lunch

Reseller News kicks off awards season in 2019 with Judges' Lunch

The 2019 Reseller News Innovation Awards has kicked off with the Judges Lunch in Auckland with 70 judges in the voting panel. The awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors. Photos by Christine Wong.

Reseller News kicks off awards season in 2019 with Judges' Lunch
Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomed 2018 inductees - Chris Simpson, Kendra Ross and Phill Patton - to the third running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing landscape of the technology industry in New Zealand, while outlining ways to attract a new breed of players to the ecosystem. Photos by Gino Demeer.

Reseller News welcomes industry figures for 2019 Hall of Fame lunch
Show Comments