In a landmark deal worth $6.75 billion, experience management platform provider Qualtrics has announced plans to acquire Press Ganey Forsta, marking the company’s largest acquisition to date. The strategic move aims to enhance Qualtrics’ capabilities in understanding and improving customer experiences, with a particular focus on the healthcare sector.

Press Ganey Forsta, which serves over 43,000 customers worldwide, specializes in software solutions that help organizations better understand their customers and stakeholders. The company has established itself as a leading provider of healthcare-focused customer experience tools.

The acquisition aligns with Qualtrics’ mission to advance its artificial intelligence-powered experience management solutions. Zig Serafin, CEO of Qualtrics, emphasized the significance of the healthcare industry in experience management, noting that improved experiences for patients and healthcare workers directly correlate with better care outcomes and quality.

“This acquisition will accelerate the adoption of AI and create the most comprehensive platform for improving the human experience,” Serafin stated, describing the merger as a “landmark moment” for the company.

The deal, which combines both cash and equity components, is expected to reach completion within the next few months. It comes at a time when Qualtrics has been actively expanding its AI capabilities, introducing various products and features designed to enhance customer feedback collection and analysis.

Qualtrics, which maintains offices in both Provo, Utah, and Seattle, has undergone significant changes in recent years. The company, formerly publicly traded, was acquired by Silver Lake and Canada Pension Plan Investment Board through a private equity transaction in 2023.

The merger represents a strategic expansion of Qualtrics’ services in the healthcare sector, where the company sees significant potential for growth and innovation in experience management solutions. By combining their technologies and expertise, the merged entity aims to deliver more comprehensive and sophisticated tools for understanding and improving customer experiences across various industries, with a particular emphasis on healthcare services.

The transaction highlights the growing importance of data-driven experience management in the healthcare sector and demonstrates Qualtrics’ commitment to expanding its capabilities through strategic acquisitions.