As per the terms of the proposal, the experience management software company will receive a purchase price of $18.15 per share in cash


Qualtrics gets $12.4bn buyout offer from Silver Lake and CPPIB. (Credit: Ben P L from Provo, USA/Wikimedia Commons)

US-based experience management software company Qualtrics International has received a non-binding buyout proposal worth $12.4bn from private equity firm Silver Lake Management and Canada Pension Plan Investment Board (CPPIB).

Currently, Qualtrics is listed on the Nasdaq with SAP being its majority owner.

As per the terms of the proposal, Qualtrics International will receive a purchase price of $18.15 per share in cash.

In this regard, Qualtrics and Silver Lake have entered into an exclusivity agreement to negotiate a possible acquisition.

Subject to customary terms and conditions, the exclusivity agreement will end on 15 March 2023.

According to a US Securities and Exchange Commission (SEC) filing, the offer price for Qualtrics International represents a premium of about 73% to the unaffected average of the daily volume weighted average prices of the company stock for the 30 days ending 25 January 2023.

Upon the acceptance and completion of the buyout offer from Silver Lake and CPPIB, Qualtrics International would become a private company.

Qualtrics was acquired by Germany-based software company SAP in 2019 and about two years later went public.

The US SEC filing stated: “The Board, in consultation with its financial and legal advisors, will continue to carefully review and consider the Silver Lake Proposal and pursue the course of action that it believes is in the best interests of all of the Company’s stockholders.

“The Company’s stockholders do not need to take any action at this time. There can be no assurance that a definitive agreement relating to the Silver Lake Proposal or any other transaction will be entered into by the Company, or that any transaction will be consummated.”

Founded in 2002, Qualtrics International offers a software platform to support companies continually evaluating the quality of their four main experiences mainly customers, employees, products, and brands.