MARKET MOVEMENT
Experience management software vendor Qualtrics acquired by Silver Lake for $ 12.5 billion
Qualtrics , a vendor of experience management software , entered into a definitive agreement to be acquired by Silver Lake , the global leader in technology investing , in partnership with Canada Pension Plan Investment Board , in an all-cash transaction that values Qualtrics at approximately $ 12.5 billion . Qualtrics and SAP intend to maintain a go-to-market and technology partnership to both service existing joint customers and target new customer opportunities .
Silver Lake and its co-investors , together with CPP Investments , acquired 100 % of the outstanding shares Silver Lake does not already own , including the entirety of SAP ’ s majority ownership interest in March . Qualtrics will become an independent , privately held company positioned to drive
Zig Serafin
category-defining innovation and efficient growth at scale on its path to becoming the next great enterprise cloud software platform .
Under the terms of the agreement , Qualtrics shareholders , including SAP , received $ 18.15 per share in cash . Qualtrics will continue to be led by Chief Executive Officer Zig Serafin , and the company will remain headquartered in Provo , Utah and Seattle , Washington . The transaction was 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 .
Qualtrics ’ s Board of Directors , as well as a Qualtrics committee of independent directors , has approved the transaction , which has also been approved by SAP in its capacity as the principal shareholder of Qualtrics . No other shareholder approval is required . The transaction is expected to close in the second half of 2023 , subject to the satisfaction of customary closing conditions , including the receipt of the requisite regulatory approvals . Qualtrics ’ s common stock will no longer be listed on any public market .
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Stake in Milrem Robotics by UAE ’ s EDGE represents largest foreign investment in Estonia
EDGE ’ s acquisition of Milrem Robotics , Europe ’ s developer of robotics and autonomous systems , has been recognised as the Baltic M & A Deal of the Year at the Baltic M & A and Private Equity Forum 2023 , held in Latvia ’ s capital , Riga . The acquisition of the majority share in Milrem Robotics by EDGE , which is one of the world ’ s fastest growing and advanced
technology and defence groups , was the largest-ever foreign investment in Estonia ’ s growing defence industry .
Received by Kuldar Väärsi , Founder and CEO of Milrem Robotics , the award celebrates the strategic investment and seamless transition of Milrem Robotics into EDGE , which will provide significant economic development , accelerate international growth , and advance industry-leading technologies and solutions .
Launched in November 2019 , the UAE ’ s EDGE is one of the world ’ s advanced technology groups , established to develop agile , bold , and disruptive solutions for defence and beyond , and to be a catalyst for change and transformation . It is dedicated to bringing breakthrough innovations , products , and services to market with greater speed and efficiency , to position the UAE as a global hub for future industries , and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive .
With a focus on the adoption of 4IR technologies , EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security , working with front-line operators , international partners , and adopting advanced technologies such as autonomous capabilities , cyber-physical systems , advanced propulsion systems , robotics , and smart materials .
Headquartered in Abu Dhabi , capital of the UAE , EDGE consolidates more than 20 entities into four core clusters : Platforms and Systems , Missiles and Weapons , Electronic Warfare and Cyber Technologies , and Trading and Mission Support .
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