BDT & MSD Partners, Accel, Michael Dell Buy into Qualtrics

Qualtrics, an experience management (XM) software company whose $12.5 billion acquisition by technology investor Silver Lake just closed, concurrently received a $250 million equity investment from merchant bank BDT & MSD Partners, $250 million from Michael Dell’s family office DFO Management and $500 million from venture capital firm Accel.

As part of the transaction, Gregg Lemkau, Co-Chief Executive Officer of BDT & MSD Partners, will join the Qualtrics Board of Directors.

“Their(BDT & MSD Partners) vote of confidence, alongside Silver Lake’s investment and partnership with the Qualtrics team, speaks volumes about our opportunity to deliver our category-defining growth as we build the next great enterprise cloud platform,” said Ryan Smith, Qualtrics Founder and Executive Chairman.

Silver Lake and its co-investors, together with Canada Pension Plan Investment Board, announced acquisition plans in March to acquire 100% of the outstanding shares in Qualtrics that Silver Lake did not already own for $18.15 per share in cash. The deal included the entire purchase of German software enterprise company SAP’s 71% ownership, which acquired Qualtrics for $8 billion in 2018.