Observed Signal · Mar 13, 2023 · M&A - Announced · Source: CMSWire · Impact: 4/5 · Sentiment: Neutral
Silver Lake and CPP Acquire Qualtrics for $12.5B
Silver Lake and CPP Investments have agreed to acquire Qualtrics, a leading experience management (XM) software provider, for $12.5 billion in cash. As part of the deal, SAP will sell its entire stake of 423 million shares, worth approximately $7.7 billion, at $18.15 per share. Qualtrics, which SAP acquired in 2019 for $8 billion and took public in 2021, will return to private ownership. The transaction, approved by Qualtrics' board and SAP's executive and supervisory boards, is expected to close in the second half of 2023, pending regulatory approvals. Qualtrics will continue to be led by CEO Zig Serafin, and SAP will remain a go-to-market and technology partner. This major consolidation underscores the ongoing significance of experience management in the MarTech ecosystem.
Major $12.5B acquisition of leading experience management platform Qualtrics by Silver Lake and CPP, reshaping the MarTech landscape.
Track Qualtrics Signals & Market Shifts in Real-Time
Polaris7 autonomous intelligence agents track regulatory filings, primary sources, executive changes, and deal flow 24/7. Create your free Explorer workspace to monitor these entities.
Key Takeaways & Evidence Grounding
- Silver Lake and CPP Investments acquire Qualtrics for $12.5 billion in cash.
- SAP sells its entire stake of 423 million shares, worth approximately $7.7 billion.
- Purchase price is $18.15 per share.
- SAP acquired Qualtrics in 2019 for $8 billion and took it public in 2021.
- The deal is expected to close in the second half of 2023, subject to regulatory approvals.
Connected Companies & Entities
4 Entities mapped“Qualtrics, a leading provider of experience management (XM) software, will be acquired by Silver Lake and CPP Investments....”
“Silver Lake and CPP Investments submitted a proposal to acquire all outstanding shares in Qualtrics....”
“Canada Pension Plan Investment Board (CPP Investments) is co-acquirer in the deal....”
“SAP agreed to sell its entire stake in Qualtrics as part of the acquisition....”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Zendesk Names Rachita Sundar as CFO
Zendesk announced the appointment of Rachita Sundar as Chief Financial Officer, effective September 28, 2026. Sundar, who brings over 20 years of experience in finance and operations at technology companies including Microsoft Azure, HubSpot, and Qualtrics, succeeds Julie Swinney, who transitions to Chief Administrative Officer and executive sponsor of Zendesk's Employee Service business. At Qualtrics, Sundar helped finance and close the $6.75 billion acquisition of Press Ganey Forsta. CEO Tom Eggemeier highlighted her financial rigor and operational expertise as Zendesk scales toward a multi-billion-dollar AI business.
Consumers Trust AI Advice but Not AI Purchases
A survey by ACI Worldwide of over 3,300 U.S. and U.K. consumers reveals that only 7% of fashion shoppers would allow an AI assistant to make purchases without approval, while 53% are uncomfortable with AI making purchases on their behalf. Consumers value AI for tasks like price drop alerts and cross-retailer comparisons, but want to retain control over final purchase decisions. The article highlights that retailers can build loyalty by embedding AI assistants in their apps for order tracking, returns, and promotions. Privacy concerns remain significant, with 53% of global consumers worried about AI-enabled support posing privacy risks, according to Qualtrics XM Institute. Experts suggest framing AI as a 'better editor' that narrows options rather than a decision-maker, emphasizing the importance of trust and transparency.
CPP Investments and Brookfield launch $50 billion Maple Fund to pursue large-scale investments across Canada
TORONTO, ON (September 15, 2026) – Canada Pension Plan Investment Board (“CPP Investments”) and Brookfield Asset Management Ltd. (“Brookfield”) today announced the launch of the Maple Fund, a joint cooperation framework to generate and execute up to C$50 billion in equity of large-scale investments in critical infrastructure and strategic industries across Canada.
Track Real-Time Market Signals & Shifts
Set up custom watchlists to receive automated, evidence-grounded executive digests whenever material signals or shifts occur across your tracked landscape.