Observed Signal · Oct 6, 2025 · M&A - Announced · Source: CMSWire · Impact: 4/5 · Sentiment: Positive
Qualtrics to Acquire Press Ganey Forsta for $6.75B
Qualtrics, a customer experience software provider, has confirmed its $6.75 billion acquisition of Press Ganey Forsta, a healthcare analytics and experience management firm. The deal represents one of the largest consolidations in the Voice of the Customer (VoC) software market. Combining Qualtrics' cross-industry experience management platform with Press Ganey's deep healthcare expertise will create a leader in AI-powered experience management. Both companies have partnered with Vizient and Epic to enhance predictive metrics and integrate patient feedback into electronic health records. The acquisition follows Press Ganey Forsta's recent purchase of InMoment in May 2025, expanding its client base to over 43,000. Qualtrics, previously acquired by Silver Lake and CPP Investments for $12.5 billion in 2023, continues its aggressive expansion strategy.
Major $6.75B M&A deal consolidating the CX/VoC software market, creating a dominant player with deep healthcare vertical depth and synergies.
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Key Takeaways & Evidence Grounding
- Qualtrics confirmed its $6.75B acquisition of Press Ganey Forsta on Oct. 6, 2025.
- Press Ganey Forsta had acquired InMoment in May 2025, expanding its CX capabilities.
- Qualtrics and Press Ganey both are leaders in Gartner's Magic Quadrant for VoC platforms.
- Qualtrics formed strategic partnerships with Vizient and Epic to enhance healthcare analytics.
- The deal is subject to regulatory approval and is expected to close in coming months.
Connected Companies & Entities
8 Entities mapped“Qualtrics, the customer experience software provider known for its CX surveys and Voice of the Customer (VoC) technology, will acquire Press...”
“Press Ganey Forsta completed a major acquisition in May 2025, purchasing InMoment to create a customer experience powerhouse....”
“Silver Lake and CPP Investments acquired Qualtrics for $12.5 billion in 2023....”
“Silver Lake and CPP Investments acquired Qualtrics for $12.5 billion in 2023....”
“SAP agreed in March 2023 to sell its stake in Qualtrics as part of the company's $12.5 billion acquisition by Silver Lake and CPP Investment...”
“Staikos sees the acquisition as both a challenge and an opening for competitors such as Medallia, Sprinklr and Verint....”
“Staikos sees the acquisition as both a challenge and an opening for competitors such as Medallia, Sprinklr and Verint....”
“Staikos sees the acquisition as both a challenge and an opening for competitors such as Medallia, Sprinklr and Verint....”
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