The deal will see Qualtrics (NASDAQ: XM) acquire Clarabridge for US$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 US$37.33.
“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 organisations, 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 organisations will benefit from a single platform to capture it, uncover meaningful insights, and use them to drive action across their business.”