SAP: buys US experience management software maker Qualtrics
(CercleFinance.com) - Germany's SAP has agreed to buy the US experience management software group Qualtrics for 8 billion dollars in cash, hence strengthening its position in supply chains, networks and employee processes.
Qualtrics specialises in providing software that collects data for companies, so they can manage customer, product, employee and brand experiences.
By buying Qualtrics, the German business software company plans to combine operational data with experience data to deliver a "unique end-to-end" management system.
SAP said that Ryan Smith will continue to lead Qualtrics, and Qualtrics is expected to continue to maintain dual headquarters in Provo, Utah, and Seattle, Washington, SAP said.
Qualtrics expects its full-year 2018 revenue to exceed 400 million dollars.
The Frankfurt-listed shares of SAP were down 4.3 percent after the news.
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