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Tech giant SAP to acquire US based company Qualtrics for a whopping 8 billion dollars

The logo of German software group SAP AG is pictured at its headquarters in Walldorf, Germany, May 12, 2016. REUTERS/Ralph Orlowski

SAP, the most valuable tech firm from Europe has finally decided to acquire a United States based tech firm called Qualtrics for 8 billion dollars. It was made public with an estimate of 5 billion dollars. The whole deal will have a whole new experience with data. Qualtrics was founded in 2002 and they have a research software of about 9,000 enterprise customers.

The Chief Executive of SAP Bill McDermott said that the upcoming listing of the company will be oversubscribed. The profits that were made by the company is a very small amount of profit. The biggest rival of the company right now is Survey Monkey, which went public in the month of September which was valued at about $1.25 billion dollars.

This is one of the latest acquisitions for a software company after the company IBM snapped the open source Red Hat at $34 billion. All the big software companies like to stay ahead of each other in technology software. The SAP is one of the largest software company right now, which has more than 15,000 sales force. The SAP is basically a German-based software company which has an overall revenue of more than 6 billion pounds.

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