In the US, experience management company Qualtrics has filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC), valuing the firm between $12bn and $14.4bn.
SAP-owned Qualtrics provides solutions for clients to continually assess and improve the four 'core experiences': contact center customer needs forecast CustomerXM; employee engagement trend tracker EmployeeXM; ProductXM, which gives product managers the ability to test market 'fit' on new products; and BrandXM. In July, SAP confirmed its intention to sell shares in Qualtrics on the public market in the USA - but remain its largest shareholder, reducing its stake from 98.6% to 80%.
Qualtrics, which now employs 3,370 staff, began talking about an IPO in 2016, although it continued to raise substantial sums in private capital. In 2018 it announced it was to go public, aiming to raise $200m and be listed under the Nasdaq symbol XM - but just three weeks later SAP bought it for $8bn.
The IPO price is estimated to be between $20 and $24 per share, and the offering is expected to close sometime this month.
Web site: www.qualtrics.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.