SAP Buys Qualtrics; 2018 Catapulted to $65B in $1B+ M&A Volume • Tomasz Tunguz

Largest VC backed software acquisition ever!

SAP Buys Qualtrics; 2018 Catapulted to $65B in $1B+ M&A Volume • Tomasz Tunguz:

Qualtrics fetched 23x trailing twelve months revenue multiple. This is the second largest among those I have tracked. The only one greater is the Microsoft/Github acquisition, which is based on press reports of Github’s revenue. Each of the other data points is substantiated through public investor disclosures. It’s the largest ever VC backed software acquisition. Congratulations to the Qualtrics team!

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