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Software giant SAP to spin off Qualtrics and take it public

Qualtrics CEO Ryan Smith walks through the office in Orem on Friday, Feb. 2, 2018. Jeffrey D. Allred, Deseret News

NEW YORK (AP) — SAP says it plans to spin off Qualtrics and take it public less than two years after acquiring the survey-software provider. SAP said Sunday it will retain majority ownership of Qualtrics’ shares. The German software giant announced in November 2018 that it agreed to pay $8 billion cash for Qualtrics. It was just days before the Provo, Utah, company was set for its initial sale of stock to the public. SAP says going public will help Qualtrics expand its customer base. Its products help companies get feedback from employees and customers.