Qualtrics Makes Historic $6.75 Billion Acquisition to Transform Experience Management

In a groundbreaking move that signals a major shift in the experience management industry, Qualtrics announced its largest acquisition to date: a $6.75 billion deal to purchase Press Ganey Forsta. This strategic acquisition, revealed on October 6, 2025, represents a significant milestone for the Utah and Seattle-based company as it aims to dramatically expand its capabilities in helping organizations understand and improve their stakeholder experiences. The combination of these two experience management powerhouses creates what industry experts are already calling a new standard in the sector, particularly in healthcare—a field where effective experience management directly translates to better patient outcomes and quality of care. Qualtrics CEO Zig Serafin described the acquisition as a “landmark moment,” emphasizing how the integration will “accelerate the adoption of AI and create the most comprehensive platform for improving the human experience.” This ambitious move comes at a pivotal time when organizations across industries are increasingly recognizing that understanding and enhancing experiences—whether for customers, patients, or employees—has become essential to maintaining competitive advantage in a rapidly evolving marketplace.

The acquisition brings together two complementary forces in experience management technology. Press Ganey Forsta has built an impressive reputation for its specialized software solutions that help companies understand their customers and stakeholders, with particular strength in the healthcare sector where it serves more than 43,000 customers globally. Meanwhile, Qualtrics has developed a robust platform that allows organizations to collect, analyze, and act on experience data across multiple domains, including customer, employee, product, and brand experiences. What makes this combination particularly powerful is the shared vision of both companies to transform how organizations understand human experiences at scale. By combining their technologies, data sets, industry expertise, and customer relationships, the merged entity is positioned to offer unparalleled insights and solutions to organizations looking to improve the experiences they deliver. Healthcare stands to benefit significantly, with Serafin noting, “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.”

The timing of this acquisition aligns perfectly with the growing prominence of artificial intelligence in transforming how companies listen to and understand their stakeholders. Qualtrics has already been at the forefront of integrating AI capabilities into its experience management platform, rolling out numerous AI-powered products and features designed to help organizations gather and analyze feedback with unprecedented depth and efficiency. These innovations allow companies to uncover insights that might otherwise remain hidden in vast amounts of unstructured feedback data, such as open-ended survey responses, customer service interactions, and social media comments. The integration of Press Ganey Forsta’s extensive healthcare data and domain expertise with Qualtrics’ advanced AI capabilities promises to create a uniquely powerful solution for healthcare providers. This comes at a crucial time when healthcare organizations are facing increasing pressure to improve patient experiences while managing staff burnout and operational challenges. The combined entity will be able to offer healthcare providers more comprehensive insights into patient journeys, clinical outcomes, employee engagement, and operational efficiency—all critical factors in delivering high-quality care.

The $6.75 billion transaction, structured as a combination of cash and equity, represents a significant investment in the future of experience management technology. While the acquisition is expected to close in the coming months, subject to regulatory approvals and customary closing conditions, the market has already responded positively to the announcement. Industry analysts point to several factors that make this deal particularly strategic: First, the complementary nature of the two companies’ offerings means there’s limited overlap and significant opportunity for cross-selling to existing customers. Second, Press Ganey Forsta’s strong position in healthcare gives Qualtrics immediate depth in a sector that has traditionally been challenging for technology companies to penetrate. Third, the combined company will benefit from increased scale, which is particularly important for AI development where larger datasets typically lead to more effective algorithms and insights. Finally, the merger creates significant opportunities to develop new, integrated products that leverage both companies’ strengths and address evolving customer needs.

For Qualtrics, this acquisition marks an important chapter following its transition from public to private ownership. After being acquired by Silver Lake and the Canada Pension Plan Investment Board in a private equity deal in 2023, Qualtrics has been able to pursue a more aggressive growth strategy away from the quarterly pressures of the public markets. This privacy has allowed the company to make bold moves—like the Press Ganey Forsta acquisition—that might have been more challenging to execute as a public company. The private equity backing has provided Qualtrics with both the capital and strategic flexibility to pursue transformative acquisitions that align with its long-term vision for experience management. For customers of both Qualtrics and Press Ganey Forsta, the acquisition promises enhanced capabilities, more comprehensive solutions, and accelerated innovation. While there will inevitably be questions about integration and product roadmaps, leadership from both companies has emphasized that maintaining service quality and customer relationships will be a top priority throughout the transition period.

The broader implications of this acquisition extend beyond just these two companies, signaling a maturation and consolidation of the experience management market as a whole. As organizations increasingly recognize the strategic value of understanding and optimizing experiences, the tools and platforms that enable this work are becoming more sophisticated, more integrated with core business processes, and more essential to competitive strategy. The Qualtrics-Press Ganey Forsta combination represents the emergence of experience management as a critical enterprise capability rather than just a set of survey tools or feedback mechanisms. This evolution mirrors similar developments in other enterprise software categories, where point solutions eventually gave way to comprehensive platforms that address multiple related needs. For the thousands of organizations that rely on these technologies to understand their customers, patients, and employees, this acquisition represents a significant step toward more powerful, more integrated experience management capabilities. And for the millions of individuals whose feedback is collected and analyzed through these platforms, it holds the promise of experiences that are increasingly tailored to their needs, preferences, and circumstances—particularly in healthcare settings where the quality of experience can have profound implications for wellbeing and outcomes.