Qualtrics raises $1.55 billion in IPO, spinning out from SAP with plans to continue Seattle growth
January 28, 2021 at 1:33 pm
Qualtrics founder Ryan Smith, left, ringing the Nasdaq opening bell virtually Thursday morning with Qualtrics CEO Zig Serafin, right. (Screenshot via Nasdaq)
A little more than two years ago, days before Qualtrics was set to go public, SAP swooped in with a deal to acquire the experience management technology company for $8 billion instead. This time around, Qualtrics actually made it to the stock market on its own, raising $1.55 billion in an initial public offering on the Nasdaq on Thursday morning.
The company priced its shares at $30, putting its valuation around $15 billion, up more than 87% from the amount SAP paid in the acquisition.
SAP launches ‘Rise’ business transformation as a service
SAP CEO Christian Klein announces business transformation as a service package, dubbed Rise
Share this item with your network: By Published: 28 Jan 2021 9:15
SAP’s chief executive officer, Christian Klein, has announced what the supplier is calling a “business transformation service” under the label “Rise”.
The “Rise with SAP” package is said to offer “customers at all stages of digital transformation a completely new way to redesign processes for better business outcomes”, according to a company statement.
Alongside the announcement was confirmation of SAP’s acquisition of business process specialist supplier Signavio. The transaction is expected to close in the first quarter of 2021.
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Summary:
We analyze what we believe is one of the most important changes SAP is bringing to the market
(via SAP)
RISE with SAP is finally with us. Over the last month, SAP has briefed us (and many others) multiple times on this topic. Throughout our conversations, we have urged SAP not to position this in such a way that it is perceived as HEC 2.0 and Leonardo 2.0. Has SAP succeeded? Kind of.
We have already talked about the Signavio announcement which we see as a key element in helping customers get a better grasp on their landscapes in preparation for business process optimization. The second plank of the RISE offering is what some are calling HEC 2.0 but which is fundamentally different.
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