Shearman & Sterling advised SAP SE in connection with the pending sale of Nasdaq-listed Qualtrics International Inc., a cloud-native software provider, to Silver Lake Management and the Canada Pension Plan Investment Board (CPP Investments) in an all cash transaction valued at $18.15 per share, which corresponds to an equity value of approximately $12.5 billion. SAP, the controlling stockholder of Qualtrics, is a software company based in Germany.

The transaction, which was announced on March 13 in a press release, is expected to close in the second half of 2023.

The Team