On November 4th, 2020, Silver Lake and CPP Investments announced that they had acquired Qualtrics International Inc., a leading provider of experience management software, for a staggering $12.5 billion. This acquisition marks one of the largest deals in the software industry this year and is sure to have a major impact on the industry.
Qualtrics is a Utah-based company that provides software to help businesses collect and analyze customer feedback. The company was founded in 2002 by Ryan Smith and his father, Scott Smith, and has since grown to become one of the most successful software companies in the world. Qualtrics has over 10,000 customers in more than 100 countries, including some of the world’s largest companies such as Microsoft, Amazon, and IBM.
The acquisition of Qualtrics by Silver Lake and CPP Investments is a major move for both companies. Silver Lake is a private equity firm that specializes in technology investments, while CPP Investments is one of Canada’s largest pension funds. The two companies have joined forces to acquire Qualtrics in order to capitalize on its potential for growth.
The acquisition of Qualtrics is expected to be beneficial for both Silver Lake and CPP Investments. Silver Lake will be able to leverage its expertise in technology investments to help Qualtrics expand its customer base and increase its revenue. Meanwhile, CPP Investments will be able to benefit from Qualtrics’ strong customer base and its potential for growth.
The acquisition of Qualtrics by Silver Lake and CPP Investments is sure to have a major impact on the software industry. The deal is a sign that private equity firms are increasingly looking to invest in software companies, as they recognize the potential for growth in this sector. It also shows that large pension funds are willing to invest in software companies, as they see the potential for long-term returns.
Overall, the acquisition of Qualtrics by Silver Lake and CPP Investments is a major move for both companies and is sure to have a major impact on the software industry. It is a sign that private equity firms and pension funds are increasingly looking to invest in software companies, as they recognize the potential for growth in this sector.
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