SAP's Qualtrics To Go Public

(RTTNews) - SAP SE (SAP) said Sunday that it plans to take its experience management software company Qualtrics public through an initial public offering in the United State.

The announcement comes less than two years after the German software giant announced a plan to acquire Qualtrics for $8 billion, days before Qualtrics was set to go public as an independent company.

SAP said it currently owns 100% of Qualtrics shares. SAP will retain majority ownership of Qualtrics and has no intention of spinning off or otherwise divesting its majority ownership interest. Qualtrics founder Ryan Smith intends to be Qualtrics' largest individual shareholder.

The transaction is not expected to have an impact on its 2020 or longer-term financial targets, SAP said in a statement.