Qualtrics has announced that it’s entered into a definitive acquisition agreement with Clarabridge, a provider of omnichannel conversational analytics capable of helping businesses capture relevant customer data across email, social media, chat, product reviews, and support calls. The stock transaction is valued at $1.125 billion and will close during the fourth quarter of Qualtric’s fiscal year, ending on December 31st, 2021.
Qualtrics is the creator of the “Experience Management (XM)” service category and works with organizations to improve and manage their customer, employee, product, and brand experiences. The company’s XM Platform is designed to help its users create customer-centric products and develop memorable brand identities that attract, retain, and delight customers and employees in retail, healthcare, financial, travel, government, automotive, and other industries.
The acquisition of Clarabridge will help Qualtrics continue to expand its experience management platform and enable its users to track, analyze, and act on customer and employee data. Clarabridge’s platform uses AI-powered conversational analytics and a sophisticated understanding of natural language to help organizations discover and understand a customer’s effort, intent, emotion, and the intensity they have about a particular business. The addition of these capabilities to Qualtrics’ platform will help its users unlock actionable insights from every customer interaction and use them to increase efficiencies, grow sales, and ensure compliance.
Zig Serafin, the CEO of Qualtrics, made the following statement: “With our acquisition of Clarabridge, we’re accelerating our growth and leadership as the world’s #1 experience management company and taking the category we created to an entirely new level. Together, we’ll give companies even greater power to build deep, trusted relationships with their customers and employees and deliver incredible experiences that everyone will love. We’re excited to welcome the Clarabridge team to Qualtrics.”
Learn more about Qualtrics.