Qualtrics, an experience management provider based in Provo, has announced that it has entered into a definitive agreement to acquire Clarabridge, an omnichannel conversational analytics provider based in Reston, Virginia. The purchase is an all-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 said in a release. “With the combination of the two companies, 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 No. 1 experience management platform,” the statement said.
“With our acquisition of Clarabridge, we’re accelerating our growth and leadership as the world’s No. 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 No. 1 experience management company.”
“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,” the Qualtrics release said.