Qualtrics files IPO two years after sale to SAP
Qualtrics, which makes customer survey software, said in a filing Monday that it plans to sell an undetermined number of shares for $20 to $24 each.
Its documents with the United States Securities and Exchange Commission indicated a placeholder amount of $100 million, which will likely change once it sets the amount of shares it plans to market.
SAP agreed to pay $8 billion for Qualtrics in November 2018 as part of its biggest ever contract, in a bid to compete with rivals such as Salesforce.com Inc.
Qualtrics revealed in the filing that investment firm Silver Lake agreed on Dec. 23 to purchase $550 million of Class A common stock in a private placement, including $225 million in shares in the IPO price and the remainder at $21.64 per share.
Morgan Stanley and JPMorgan Chase & Co. are at the top of the list. Qualtrics plans to list its shares on the Nasdaq Global Select Market under the symbol XM.
By Katie Roof
