Qualtrics has agreed to acquire Clarabridge, a provider of conversational analytics. The value of the deal is $1.125 billion. Clarabridge’s backers include General Catalyst Partners and Summit Partners.
PROVO, Utah and RESTON, Va., July 29, 2021 /PRNewswire/ — Qualtrics (NASDAQ: XM), the world’s #1 Experience Management (XM) provider and creator of the XM category, today announced that it has entered into a definitive agreement to acquire Clarabridge, the leader in omnichannel conversational analytics, in a stock transaction valued at $1.125 billion.
Clarabridge’s sophisticated 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.
Qualtrics has the most powerful platform for enabling organizations to ask their customers and employees the right questions to understand how they’re feeling about their company, products and brand experiences–– 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 the world’s #1 experience management platform.
Quotes on the News:
“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 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,” said 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.”
“The role of experience management is growing in importance within organizations, and the ability to listen across multiple channels is going to be critical to their future success,” said Alan Webber, IDC’s program vice president for digital strategy and customer experience. “Increasingly, customers and employees provide feedback in many different places, and organizations will benefit from a single platform to capture it, uncover meaningful insights, and use them to drive action across their business.”
Bringing Omnichannel Experience Analytics to the #1 Experience Management Platform
Qualtrics is the gold standard 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.
Clarabridge’s platform has the power to discover and understand critical human nuances such as effort, emotion, and intent – capabilities that are unmatched in the market. 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.
With the combination of Clarabridge and Qualtrics, companies will be best-positioned to truly understand what customers and employees are saying across every channel and deliver personalized experiences at incredible scale.
Details Regarding the Proposed Acquisition
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.
Additional details and information about the terms and conditions of the acquisition will be available in a current report on Form 8-K to be filed by Qualtrics with the Securities and Exchange Commission.
Morgan Stanley & Co. LLC is serving as financial advisor to Qualtrics and Shearman & Sterling LLP is serving as legal counsel. Qatalyst Partners is serving as financial advisor to Clarabridge and Cooley LLP is serving as legal counsel.
Qualtrics, the world’s #1 Experience Management (XM) provider and creator of the XM category, is changing the way organizations manage and improve the four core experiences of business—customer, employee, product, and brand. Over 13,500 organizations around the world are using Qualtrics to listen, understand, and take action on experience data (X-data™)—the beliefs, emotions, and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love, and build a brand people are passionate about. To learn more, please visit qualtrics.com.
Clarabridge helps the world’s leading brands take a data-driven, customer-focused approach to everything they do. Using AI-powered conversational analytics, Clarabridge’s platform enables brands to extract actionable insights from every customer interaction to grow sales, ensure compliance, and increase operational efficiencies. For more information, please visit http://www.clarabridge.com/.