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March 15, 2023
Qualtrics, a provider of experience management software, announced that it has entered into a definitive agreement to be acquired by Silver Lake, a global technology investor, in partnership with Canada Pension Plan Investment Board (CPP Investments), in an all-cash transaction that values Qualtrics at approximately $12.5 billion. Silver Lake and its co-investors, together with CPP Investments, will acquire 100% of the outstanding shares Silver Lake does not already own. Qualtrics will become an independent, privately held company. Qualtrics will continue to be led by CEO Zig Serafin, and the company will remain headquartered in Provo, Utah and Seattle. The transaction is fully financed by equity commitments from Silver Lake and co-investors together with $1.75 billion in equity from CPP Investments and $1 billion in debt.