Singapore – Global experience management (XM) provider Qualtrics has announced that it has entered a definitive agreement with conversational analytics platform Clarabridge, during a stock transaction valued at US$1.1b.
Said acquisition will feature a merge of global-centric features: Clarabridge’s sophisticated 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, and Qualtrics’ 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.
For Zig Serafin, CEO at Qualtrics, with their acquisition of Clarabridge, they are accelerating their growth and leadership as a global experience management company and taking the category they created to an entirely new level.
“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,” Serafin stated.
Meanwhile, Mark Bishof, CEO at Clarabridge, commented that what they currently deliver is far more powerful as part of Qualtrics, and that they have had an incredible opportunity to accelerate their growth and innovation as part of 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,” Bishof added.
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.