Qualtrics, a customer experience (CX) management platform, is set to acquire CX management platform Clarabridge for $1.1 billion in stock.
The Qualtrics platform provides multiple experience management solutions, designed to improve individual buyer experiences, capture lead data and surface insights to inform future engagement. In January 2021, Qualtrics was spun out of its parent company SAP SE, allowing its customer feedback and experience solutions to stand independently from the other solutions under SAP SE.
Clarabridge’s AI-powered platform combs indirect feedback sources, such as social media accounts, to gather buyer feedback data and surface insights. After its acquisition, Qualtrics will be able to augment its indirect feedback gathering capabilities, allowing the company to determine the intensity of a buyer’s diction and empower users to respond appropriately.
“Customers and employees are sharing feedback about companies everywhere,” said Zig Serafin, Qualtrics’ Chief Executive in an interview with Rueters.com. “They’re doing it on social media; they’re doing it on support calls; they’re doing it on chats; they’re doing it in product reviews — everywhere. What the acquisition of Clarabridge does is take the category that we’ve been building to the next level.”
