The deal will combine Qualtrics’ technology with Press Ganey Forsta’s data, benchmarking and healthcare expertise to create an AI platform for customer experience (CX), patient experience, employee experience and market research.

Under the terms of the agreement, Qualtrics will acquire Press Ganey Forsta for $6.75bn, payable in a combination of cash and equity.

The transaction is subject to receipt of required regulatory approvals and other customary closing conditions and is expected to close in the coming months. The two companies will continue to operate independently until then.

Experience business for the healthcare industry Press Ganey acquired market research and CX business Forsta in 2022, a year after Forsta was formed from the merger of Confirmit and FocusVision.

Qualtrics said the addition of Press Ganey Forsta’s specialised industry expertise, data and benchmarking and advisory services would extend the adoption and impact of the Qualtrics AI offer - which includes ‘Conversational Feedback’ and ‘Qualtrics Assist’ tools, synthetic research platform ‘Edge Audiences’ and AI agents.

The combination will offer experience management capabilities to businesses in ‘every industry', according to Qualtrics.

Press Ganey Forsta offers experience technology, data analytics and insights to clients in sectors including healthcare, financial services, market research and professional services. The company’s ‘Human Experience (HX)’ platform is used for CX, employee experience, patient experience and market research.

Zig Serafin, chief executive, Qualtrics (pictured), said: “Combining Qualtrics’ AI platform with Press Ganey Forsta’s trusted analytics and deep expertise creates an opportunity to deliver exceptional value and measurable outcomes for our customers.

“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.”

Patrick Ryan, chairman and chief executive, Press Ganey Forsta, said bringing together the companies would lead to “greater safety, trust, and value for millions of patients, consumers, and employees worldwide.”