Silver Lake and CPP take Qualtrics private for $12.5B

What's the deal? On 28 June 2023, Silver Lake and CPP Investments completed the take-private of Qualtrics. The all-cash transaction valued Qualtrics at approximately $12.5 billion; shareholders received $18.15 per share.

Who's who? Qualtrics (Provo, Utah) is an experience-management software platform. After SAP’s earlier ownership and Qualtrics’ 2021 IPO, Silver Lake and CPP Investments took the company private; Accel later invested alongside the sponsors.

Why it matters. A flagship Silver Lake large-cap software take-private: returning a public SaaS franchise to private ownership with long-duration capital for product and AI investment.

Source: Qualtrics close release