July 27, 2020 / 5:32 AM / 17 days ago

Qualtrics float would be 'win-win' proposition: SAP CEO

FILE PHOTO: SAP SE co-CEO Christian Klein attends the company's annual results press conference in Walldorf, Germany, January 28, 2020. REUTERS/Ralph Orlowski

BERLIN (Reuters) - SAP’s (SAPG.DE) plans to float online sentiment tracking business Qualtrics would be a “win-win” proposition, CEO Christian Klein said on Monday, as the business software group confirmed its second quarter results and guidance.

SAP would retain a controlling stake in Qualtrics, which will remain an integral part of its “Intelligent Enterprise” strategy, Klein said. “We are in it for the long run,” he told reporters on a conference call.

Chief Financial Officer Luka Mucic said details were still to be worked out, noting it was typical for stock market offerings of tech companies to comprise a stake of 10%-15%.

The goal, Mucic added, would be to capitalise Qualtrics properly while giving SAP greater latitude to invest in developing its own business or make smaller “tuck-in” acquisitions.

Reporting by Douglas Busvine; Editing by Michelle Martin

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