Qualtrics stock gains after company agrees to $12.5 billion take-private deal

Qualtrics International Inc. shares
XM,
+6.13%
were rising more than 6% in premarket trading Monday after the software company said it has agreed to be taken private by Silver Lake, in partnership with Canada Pension Plan Investment Board, in a deal that values Qualtrics at about $12.5 billion. Silver Lake and CPP Investments will pay $18.15 a share to acquire Qualtrics in an all-cash deal. Qualtrics disclosed the buyout offer on March 6. The $18.15-a-share buyout price marks a 73% premium to the 30-day volume-weighted average price on Jan. 25, the last full trading day before SAP SE announced plans to explore a sale of its stake in Qualtrics, according to Monday’s press release. “Silver Lake’s belief in our vision and their amazing track record of helping founders and management teams speaks for itself,” Qualtrics Executive Chairman Ryan Smith said in the release. Chief Executive Zig Serafin will continue to lead the company.