German software giant SAP sells US subsidiary Qualtrics

In a surprising move, German software company SAP has announced the sale of its US-based subsidiary Qualtrics for $1.55 billion. This move marks the end of a two-year stint for Qualtrics under SAP's ownership.

Qualtrics, a cloud-based survey software company, was acquired by SAP in 2018 for over $8 billion. At that time, the acquisition was seen as a strategic move for SAP to expand into the customer experience software market. However, the COVID-19 pandemic has caused SAP to shift its focus, resulting in the sale of Qualtrics to private equity firm Silver Lake.

The sale of Qualtrics is not completely unexpected, as rumors of a potential sale had been circulating for months. However, the sale price of $1.55 billion is significantly lower than the price that SAP paid for the company just two years ago. This has caused some concern among investors, who are questioning the strategic value of the acquisition and SAP's ability to execute its plans.

Despite the concerns, SAP has stated that it remains committed to the customer experience software market, and will continue to offer its own customer experience products, such as SAP Customer Experience and SAP Sales Cloud. The company has also stated that it will use the proceeds from the sale of Qualtrics to pay down debt and invest in other growth areas.

Overall, the sale of Qualtrics marks a significant shift in SAP's strategy, and it is uncertain what the future holds for both SAP and Qualtrics. However, with the continued growth of the customer experience software market, it is likely that SAP will continue to invest in this area and explore new opportunities for growth.

https://www.lifetechnology.com/blogs/life-technology-technology-news/german-software-giant-sap-sells-us-subsidiary-qualtrics

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British tech sector 'at serious risk' after SVB collapse: govt

The British government has warned that the country's tech sector is at serious risk following the collapse of Silicon Valley Bank (SVB) in the UK. The bank, which has been a major player in the country's tech sector, announced on Wednesday that it was closing its operations in the UK and that it would be pulling out of the country completely.

The UK's tech sector has grown rapidly in recent years, with over 7,000 tech companies operating in the country and employing over 200,000 people. However, the government is concerned that the loss of such a major player in the sector will have serious ramifications for the industry as a whole.

The collapse of SVB is seen as a major blow, as the bank had been an important source of funding for many of the country's start-ups, providing them with vital investment at crucial stages of their growth.

The government is now calling for urgent action to be taken to support the tech sector in the wake of the SVB collapse. This includes the provision of alternative sources of finance for start-ups and the creation of a more supportive regulatory environment.

The loss of SVB also highlights the dangers of relying too heavily on a single player in any industry. If the UK's tech sector is to continue to grow and thrive, it will need a diverse range of players and funding options to support its development.

The government has committed to working closely with the tech industry and other stakeholders to ensure that the sector is able to weather the storm caused by the SVB collapse and emerge stronger and more resilient in the future.

https://www.lifetechnology.com/blogs/life-technology-technology-news/british-tech-sector-at-serious-risk-after-svb-collapse-govt

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Swiss City Lucerne Votes to Restrict Airbnb Rentals

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The city of Lucerne in Switzerland has recently voted to implement new restrictions on Airbnb rentals in the city. This decision comes after concerns about the impact of short-term rentals on the city's housing market and local communities.

The new regulations will require Airbnb hosts in Lucerne to register their properties with the city and obtain a special permit for short-term rentals. Additionally, hosts will be limited to renting out their properties for a maximum of 90 days per year.

While some residents and business owners expressed concern about the potential impact on tourism and the sharing economy, others praised the decision as a necessary step to address the growing housing crisis in Switzerland.

Lucerne joins a growing list of cities around the world that have implemented restrictions on Airbnb and other short-term rental platforms. Some of these cities include Paris, New York, Barcelona, and Amsterdam.

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https://www.lifetechnology.com/blogs/life-technology-technology-news/swiss-city-lucerne-votes-to-restrict-airbnb-rentals

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