Qualtrics to Acquire Clarabridge, For $1.125 Billion
Qualtrics (NASDAQ: XM), a Provo, UT and Seattle, WA-based provider of Experience Management (XM) solutions, is to acquire Clarabridge, a Reston, VA-based provider of omnichannel conversational analytics solutions, in a stock transaction valued at $1.125 billion.
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 in a complete experience management platform.
Led by CEO Mark Bishof, Clarabridge provides an AI-powered platform that allows companies to capture and analyze customer feedback from indirect sources such as social media, emails, support calls, chats and product reviews. Leading brands such as GM, Farmers, United Airlines, USAA, Bank of America, Expedia and UnitedHealthcare use Clarabridge to uncover actionable insights from every customer interaction.
Led by CEO Zig Serafin, Qualtrics provides a 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. Through natural language understanding that spans 23 languages and more than 150 industry models, Clarabridge allows organizations to 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. The proposed deal 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.