Five Firms Pilot Silver Lake-led $12.5 Billion Qualtrics Buy-Out

At least five law firms are advising on Silver Lake’s deal to take experience-management software developer Qualtrics International Inc. private, with the Canada Pension Plan Investment Board and other coinvestors.

Latham & Watkins is advising Silver Lake on the transaction, while Simpson Thacher is advising the private equity firm on debt financing for the deal.

The buying consortium is paying $18.15 per share to acquire all shares of Nasdaq-listed Qualtrics that Silver Lake does not already own, for an equity value of around $12.5 billion, according to a statement.

Shearman & Sterling said it is advising Qualtric’s controlling stakeholder, German ...