Qualtrics is making its largest acquisition ever with a $6.75 billion deal to buy Press Ganey Forsta in a bid boost the company’s experience management platform.
Press Ganey Forsta builds software to help companies understand their customers and stakeholders. It focuses on healthcare and has more than 43,000 customers globally.
Qualtrics, based in Provo, Utah, and Seattle, offers similar technology that helps companies gather data and improve the experiences and interactions that customers, employees, and others have with their products and services.
Qualtrics CEO Zig Serafin said the deal “will accelerate the adoption of AI and create the most comprehensive platform for improving the human experience.”
“There’s no more important proving ground for experience management than healthcare, where better experiences for patients and employees directly impact better outcomes and quality of care,” Serafin said in a press release. He called the deal a “landmark moment” for the company.
Qualtrics has been rolling out several AI-powered products and features to help companies gather and analyze customer feedback.
Qualtrics is buying Press Ganey Forsta with a combination of cash and equity. The acquisition is expected to close in the coming months.
Once publicly traded, Qualtrics was acquired by Silver Lake and Canada Pension Pan Investment Board in a private equity deal in 2023.
Related: How AI is changing the way companies listen and build products, with Brad Anderson of Qualtrics
