Private equity firm Silver Lake Management said on Wednesday that it was considering a takeover of SAP-backed customer-survey software maker Qualtrics International.
Silver Lake, which currently owns 4.2% of Qualtrics, plans to submit a proposal to buy the firm’s remaining shares and delist the stock, it said on a filing.
Software maker SAP last week announced plans to cut 3,000 jobs, or 2.5% of its global workforce, and explore the sale of its remaining 71% stake in Qualtrics.
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It had bought the company in 2019 for $8 billion from founder Ryan Smith.
Shares in Provo, Utah-based Qualtrics jumped 4.8%, giving the company a market capitalization of $9.4 billion.
Qualtrics and SAP did not immediately respond to Reuters requests for comment.
Source: Reuters
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