Afternoon Coffee: SAP Buys Qualtrics for $8 Billion, UPS Freight Avoids Strike

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German software giant SAP is buying Utah-based experience management company Qualtrics for $8 billion, the companies announced.

Qualtrics’ software gives businesses insight into people by collecting information about the experiences and emotions of customers and employees, the Salt Lake Tribune reports. Those reactions are fragmented, Qualtrics said in SEC filings, and “need to be collected across all engagement methods, including email, SMS, chat, phone, website, and in-app links,” the paper said.

Qualtrics will keeps its branding, leadership and personnel, operating within SAP's Cloud Business Group, the companies said.

CNBC looks at the raft of 2018 acquisitions where giant software companies are adding to their cloud, security and software services.

Teamsters Approve Contract

Teamsters members voted for a contract offer from UPS Freight, averting a strike and clearing the way for service to resume this week, Supply Chain Dive reports. The union members were focused on subcontracting and a two-tiered wage system, the Dive reports. It also reported that UPS Freight emptied its network to prepare for a strike, so it will take a few days to revive operations. Regular UPS deliveries and carriers were not affected by the service suspension or contract talks, the Dive reports.

Tech Stocks Rattle Market

And finally, an update on the stock market: A selloff in the technology market Monday spread to other sectors, dragging the Dow down 400 points, The Wall Street Journal reports. Investors are nervous about the health of tech giants, the paper reports.

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