Qualtrics announces definitive agreement to acquire Clarabridge
Qualtrics has entered into a definitive agreement to acquire Clarabridge, a provider of omnichannel conversational analytics, in a stock transaction valued at $1.125 billion.
Qualtrics provides an experience management platform for engaging with customers and employees, making it simple and scalable for companies to ask people how they feel, analyze the data and take action on their direct feedback— whether they provide it through structured responses or open text experience data.
Leading brands such as GM, Farmers, United Airlines, USAA, Bank of America, Expedia and UnitedHealthcare rely on Clarabridge to uncover actionable insights from every customer interaction. Clarabridge's AI-powered conversational analytics capabilities analyze massive volumes of indirect customer feedback—captured from unstructured sources including social media, emails, support calls, chats, and product reviews.
"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," said Qualtrics CEO Zig Serafin. "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."
Clarabridge's AI-powered platform allows companies to capture and analyze customer feedback from indirect sources such as social media, emails, support calls, chats and product reviews, and then use that data to take action across their business.
With the combination, organizations will be able to tune into, analyze and act on everything customers and employees are saying, wherever they're saying it, all on a leading experience management platform.
"Clarabridge's ability to help companies discover what their customers are saying about them across unstructured sources and provide meaningful, actionable insights is a perfect complement to the Qualtrics platform," noted Clarabridge CEO Mark Bishof. "What we deliver is far more powerful as part of Qualtrics, and we have an incredible opportunity to accelerate our growth and innovation as part of the world's #1 experience management company."
Through highly sophisticated natural language understanding that spans 23 languages and more than 150 industry models, Clarabridge helps organizations discover how easy or challenging it was for a customer to accomplish their goal, the intensity of a customer's feelings about the experience, and how that experience is likely to affect their willingness to do business with the company again.
Qualtrics will acquire Clarabridge for $1.125 billion in Qualtrics Class A common stock (subject to customary purchase price adjustments and cash payouts in lieu of stock to certain holders of Clarabridge shares) based on a fixed number of Qualtrics shares and a Qualtrics share price of $37.33. The boards of directors of Qualtrics and Clarabridge have each approved the transaction. An investor presentation about the transaction is available on our investor relations website at qualtrics.com/investors.
The proposed transaction is subject to receipt of required regulatory approvals and satisfaction or waiver of other customary closing conditions and is expected to close during Qualtrics' fourth quarter of fiscal year ending December 31, 2021.
For more information, go to www.clarabridge.com and www.qualtrics.com.