German software company, SAP announced in November that it is acquiring survey software company Qualtrics for $8 billion in an all-cash deal approved by the boards of both companies and Qualtrics‘ shareholders. Qualtrics is a global pioneer in the experience management software industry, enabling organizations to thrive in today’s experience economy.
Earlier this week, SAP announced the completion of this acquisition.
The combination of Qualtrics and SAP accelerates the new experience management category by combining Qualtrics’ experience data with operational data from SAP to power the economy. SAP and Qualtrics will offer businesses the means to deliver exceptional customer, employee, product and brand experiences.
Ryan Smith will continue to lead Qualtrics, which will retain its current leadership, personnel, branding, and company culture and operate as an entity within the Cloud Business Group at SAP. Qualtrics will continue to maintain dual headquarters in Provo, Utah, and Seattle, Washington.
Combining Qualtrics’ experience data and insights with unique operational data from the SAP software will enable customers to manage supply chains, networks, employees and core processes better. Together, the two platforms will deliver a unique end-to-end experience and operational management system to power the economy.
By tapping into SAP’s 413,000+ customers and global sales force of around 15,000, Qualtrics will be able to scale rapidly around the world. SAP has a strong track record of accelerating the growth of the innovative companies it acquires.