Qualtrics International, which provides software used to analyze and improve user and employee experiences, announced on Sunday that it has agreed to an $8 billion acquisition by SAP, three days ahead of the expected pricing of its IPO. SAP's offer is almost double Qualtrics' proposed IPO enterprise value of $4.3 billion.
The Provo, UT-based company was founded in 2002 and booked $372 million in revenue for the 12 months ended September 30, 2018. It had planned to list on the Nasdaq under the symbol XM. Morgan Stanley, Goldman Sachs, Barclays, RBC Capital Markets, Jefferies, Deutsche Bank and BMO Capital Markets were set to be the joint bookrunners on the deal.
