SAP agrees to sell Qualtrics stake for $7.7 billion

FILE PHOTO: The logo of German software group SAP is pictured at its headquarters in Walldorf

BERLIN (Reuters) – Software group SAP said on Monday it had agreed to sell its stake in data analytics firm Qualtrics for $7.7 billion as part of the acquisition of Qualtrics by funds affiliated with financial investor Silver Lake.

“At a purchase price of US$18.15 in cash per share, the transaction corresponds to a Qualtrics equity value of approximately US$12.5 billion on a fully diluted basis,” SAP said in a statement.

“SAP’s stake will be acquired for approximately US$7.7 billion,” it added.

(Writing by Paul Carrel; Editing by Christopher Cushing)