Qualtrics announces Definitive Agreement to acquire Clarabridge
Provo — Qualtrics (NASDAQ: XM), the world’s number one Experience Management (XM) provider and creator of the XM category, 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 number one 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,” says 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,” says 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,” says Alan Webber, IDC’s program VP 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 number one 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 an incredible scale.