March 13 (Reuters) – Qualtrics International Inc (XM.O) said on Monday it will go private after the customer survey software maker’s controlling shareholder, SAP SE (SAPG.DE), accepted a $12.5 billion bid from an investor consortium led by Silver Lake and Canada Pension Plan Investment Board (CPPIB).
SAP agreed to the consortium’s $18.15-per-share offer for Qualtrics, saying it would get about $7.7 billion for its stake.
The deal, this year’s biggest buyout led by private equity so far, comes after the German software giant decided that the offer was the best it could secure, Reuters reported on Sunday.
Qualtrics said earlier this month it would negotiate on an exclusive basis with Silver Lake and CPPIB until March 15 to see whether a deal could be finalized.
Silver Lake Partners currently holds a 13.94% stake in Qualtrics.
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In 2018, SAP bought Qualtrics for $8 billion and three years later listed it in New York.
Reporting by Mrinmay Dey in Bengaluru; Editing by Savio D’Souza
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