Qualtrics International will acquire Clarabridge for $1.125 billion in stock. Clarabridge offers an AI-powered platform that helps companies capture and analyze customer feedback from indirect sources such as social media, emails, support calls, chats and product reviews. Qualtrics plans to use these capabilities to enhance its experience management offerings.
The Clarabridge conversational analytics capabilities are designed to analyze massive volumes of indirect customer feedback. The software includes natural language understanding that spans 23 languages and more than 150 industry models, measuring factors such as 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.
The combined companies will be able to help retailers tune into, analyze and act on customer and employee feedback across the internet from a single experience management platform. These capabilities can enable better personalization at scale by providing retailers with greater insight into their customers’ desires.
“With our acquisition of Clarabridge, 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,” said Zig Serafin, CEO of Qualtrics in a statement.
The boards of directors of Qualtrics and Clarabridge have each approved the transaction, which is expected to close during Q4 2021.