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SAP SE (NYSE: SAP) Chief Executive Christian Klein told CNBC in an interview that its enterprise software unit spin off
Qualtrics International Inc (NASDAQ: XM) is “massively oversubscribed.”
Qualtrics could raise $1.46 billion from the IPO at a $14.6 billion valuation. It was upsized twice from a planned range of $20 to $24 to an eventually offered range of $27 to $29, as per Barron’s.
SAP had acquired Qualtrics for $8 billion in November 2018 and offered to list the entity as a separate public unit in just 18 months from acquisition.
Klein said that SAP has doubled Qualtrics revenue since acquisition with SAP’s huge customer base and aims for Qualtrics to “penetrate the market outside of our customer base.”
SAP SE and Microsoft Corp. have announced plans to integrate Microsoft Teams with SAP’s intelligent suite of solutions.
The companies also formalized an extensive expansion of an existing strategic partnership to accelerate the adoption of SAP S/4HANA® on Microsoft Azure. This builds on a joint commitment by the companies to simplify and streamline customers’ journeys to the cloud.
“New ways of working, collaborating and interacting completely transform how we operate,” said Christian Klein, CEO of SAP SE and member of the Executive Board. “By integrating Microsoft Teams across our solution portfolio, we will bring collaboration to the next level, jointly determining the future of work and enabling the frictionless enterprise. Our trusted partnership with Microsoft is focused on continuously advancing customer success. That’s why we are also expanding interoperability with Azure.”
SAP Debuts Milestone Offering to Revolutionize Customer Business Transformation
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WALLDORF, Germany, Jan. 27, 2021 /PRNewswire/ SAP SE (NYSE: SAP) today announced RISE with SAP, a milestone offering to propel customers holistic transformation into intelligent enterprises. RISE with SAP offers customers at all stages of digital transformation a completely new way to redesign processes for better business outcomes. Along with its robust partner ecosystem, SAP will deliver fast time to value, and flexibility to thrive amid change all without high up-front investments. The announcement to deliver business transformation as a service was made during RISE with SAP: The Introduction, where SAP also unveiled plans to make a strategic acquisition in the business process intelligence space. Join Christian Klein and guests including Microsoft, Siemens and LIVEKINDLY at the RISE with SAP: The Introduction event. Click
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