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Tag: Qualtrics

Qualtrics expansion expected to bring 400 jobs to Fairfax

Qualtrics, a data analytics and experience management software company based in Seattle and Provo, Utah, is expanding its presence in Fairfax County and expects to create 400 jobs in a new location in Reston, Gov. Ralph Northam announced Thursday.

The company will move from its former office in Reston to an 85,000-square-foot space at 1906 Reston Metro Plaza, investing $15.9 million. Virginia competed with Pennsylvania and Ohio for the project, according to a news release from the Fairfax County Economic Development Authority. The building is a 150,000-square-foot office tower near the Reston Metro station.

“Virginia offers access to the highest concentration of tech talent in the United States,” Northam said in a statement. “The commonwealth’s diverse tech ecosystem is driven by our stable business climate, competitive operating costs, and a world-class workforce. We look forward to Qualtrics’ continued success in Fairfax County.”

“Organizations everywhere are undergoing an experience transformation, and Qualtrics has an incredible opportunity in front of us. With its strong talent pool, Virginia is a perfect place for Qualtrics to grow,” Qualtrics CEO Zig Serafin said in a statement. “The investments we’re making today will put us in an even stronger position to help our customers build their next great customer, employee, product and brand experiences.”

FCEDA worked with the Virginia Economic Development Partnership to secure the project for Virginia. Northam approved a $1.4 million grant from the Commonwealth’s Opportunity Fund to assist Fairfax County with the project, as well as $2 million in from the Virginia Economic Development Incentive Grant, a program of performance-based incentives for large economic development projects bringing high-wage jobs to the state.

In August, Qualtrics announced its purchase of Reston-based software company Clarabridge Inc. in a nearly $1.13 billion all-stock deal that is expected to close Dec. 31. Both companies’ boards have approved the deal.

“This marks the second vote of confidence that Qualtrics has made in our business community this year,” Victor Hoskins, FCEDA’s president and CEO, said in a statement. “First was the purchase of Clarabridge, a homegrown tech success story, and now the expansion being announced today. We thank and congratulate Qualtrics for this tremendous growth and we stand ready to assist the company further as it expands its footprint here.”

 

Clarabridge to be acquired by Utah firm in $1.13B deal

Reston-based software company Clarabridge Inc. is being acquired by Provo, Utah-based data analytics firm Qualtrics International Inc. in a nearly $1.13 billion all-stock deal, the companies announced Thursday.

Clarabridge’s platform uses artificial intelligence to provide conversational analytics — it is able to analyze customer feedback from indirect sources like social media, emails, support calls, chats and product reviews. The platform understands nuances such as effort, emotion and intent and comprehends 23 languages.

“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,” Clarabridge CEO Mark Bishof said in a statement.

Qualtrics’ platform helps organizations ask customers and employees how they feel, analyze the data and act on the feedback received. Qualtrics calls the data gathered X-data, for experience data: “the beliefs, emotions, and intentions that tell you why things are happening.”

Founded in 2006, Clarabridge’s customers include United Airlines, General Motors Co. and UnitedHealthcare. Qualtrics has more than 13,500 customers, according to a news release.

Qualtrics CEO Zig Serafin said in a statement, “With our acquisition of Clarabridge, we’re accelerating our growth and leadership as the world’s No. 1 experience management company and taking the category we created to an entirely new level.”

Qualtrics will acquire Clarabridge in a fixed number of Qualtrics class A common stock shares with a share price of $37.33. The boards of directors of Qualtrics and Clarabridge have each approved the transaction, which is expected to close Dec. 31.

In 2020, Qualtrics reported total revenues of $763.5 million, up from $591.2 million in 2019. The company was acquired by German software company SAP SE in 2018 and taken public in 2020.