In one of the largest deals in the customer experience (CX) software sector, Qualtrics has announced on Monday it has agreed to acquire healthcare market research firm Press Ganey Forsta for a staggering $US 6.75 billion. The deal, which signals a major consolidation in the Voice of the Customer (VoC) space, is widely viewed as a land grab for proprietary data to fuel the next generation of generative AI models.
The union of Qualtrics’ predictive analytics and AI capabilities with Press Ganey’s massive dataset—particularly its deep expertise and sensitive data networks in healthcare—is set to dramatically accelerate the development of specialised AI tools.
“Bringing Qualtrics and Press Ganey Forsta together will accelerate the adoption of AI and create the most comprehensive platform for improving the human experience. 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,” said Zig Serafin, CEO of Qualtrics. “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. We’re excited to welcome Press Ganey Forsta to Qualtrics and deliver this future together.”
“AI is rapidly transforming every industry, and organizations need proven, innovative solutions grounded in deep expertise to move from insight to impact faster. This investment ignites our ability to deliver,” said Patrick T. Ryan, Chairman and CEO of Press Ganey Forsta. “By bringing together two leading companies, we’re accelerating critical advancements that will elevate the human experience, driving greater safety, trust, and value for millions of patients, consumers, and employees worldwide. It’s a remarkable opportunity, and we’re energized by the journey ahead with Qualtrics and our clients.”
The data grab: AI’s new gold rush
The underlying strategic value of the $6.75 billion acquisition is the proprietary data. In the current race for AI dominance, the quality and breadth of a company’s training data are paramount.
Qualtrics brings vast unstructured and structured data from customer surveys, digital feedback, and contact centre interactions across multiple sectors, including major Australian clients like Commonwealth Bank of Australia (CBA) and Mitre 10.
Press Ganey Forsta (which recently acquired InMoment) provides an extensive, highly sensitive, and detailed dataset from the healthcare industry, alongside strong presence in retail, hospitality, and financial services.
By combining these data reservoirs, the merged entity aims to create a “super-dataset” that can train more robust and specialised AI models, particularly Agentic AI—the next generation of goal-oriented, autonomous AI agents designed to resolve complex customer and patient journeys without human intervention.
Impact on the Australian CX Market
The acquisition is expected to ripple through the Australian market, where poor customer experience is already estimated to put AUD $71 billion in annual sales at risk for businesses.
Press Ganey’s core expertise in patient experience may allow Qualtrics to immediately launch highly specialised CX solutions for Australia’s sensitive sectors, including public healthcare systems and large government agencies. The integrated platform aims to offer unparalleled precision in measuring, predicting, and improving patient outcomes and public service delivery, a significant point of differentiation in the local market.
Accelerating AI Adoption despite Aussie caution
While Qualtrics has championed Agentic AI—showcasing its “Experience Agents” at its recent X4 Sydney Summit—Australian executives have historically shown a cautious approach to leading AI adoption in CX compared to global peers.
This acquisition may force their hand. The new, data-rich combined platform will offer more compelling, proven, and ready-to-deploy AI solutions that move beyond simple chatbots to handle complex, end-to-end customer resolutions. Australian organisations that lag in adopting these comprehensive AI-driven insights risk falling further behind in customer loyalty and operational efficiency.
Market consolidation and competition
The deal intensifies the competition among major CX platforms in Australia. By consolidating two major players, the combined Qualtrics entity will present a dominant force, putting pressure on competitors to accelerate their own AI-focused data strategies or risk losing enterprise market share. For Australian enterprise clients, this likely means a period of accelerated innovation but potentially reduced vendor choice.
In a statement, a Qualtrics spokesperson emphasised that the deal would create a platform that delivers “faster insights and more personalised experiences” by unifying patient experience, customer experience, and employee experience data, aiming to set a new global benchmark for the future of experience management.
