The global banking crisis of 2008-2009 had a major impact on the world economy and the technology sector was no exception. In the midst of this crisis, three software-as-a-service (SaaS) companies – Qualtrics, Cvent, and Momentive – were involved in a series of mergers and acquisitions (M&A) deals worth a total of $18 billion. These deals were some of the largest M&A transactions in the SaaS industry during this period and provided a much needed boost to the sector.
Qualtrics was the first of the three companies to be involved in a major M&A deal. In 2009, it was acquired by SAP for $8 billion. This was the largest M&A deal in the SaaS industry at the time and it allowed Qualtrics to expand its customer base and gain access to new markets. The acquisition also provided SAP with a valuable asset that would help it remain competitive in the rapidly changing technology landscape.
Cvent was next to be involved in an M&A transaction. In 2010, it was acquired by Vista Equity Partners for $1.65 billion. This deal allowed Cvent to expand its presence in the event management software market and gain access to new customers. It also provided Vista Equity Partners with a valuable asset that would help them remain competitive in the rapidly changing technology landscape.
Finally, Momentive was acquired by Apollo Global Management in 2011 for $3 billion. This deal allowed Momentive to expand its presence in the enterprise software market and gain access to new customers. It also provided Apollo Global Management with a valuable asset that would help them remain competitive in the rapidly changing technology landscape.
Overall, these three M&A deals involving Qualtrics, Cvent, and Momentive during the global banking crisis were worth a total of $18 billion. They provided a much needed boost to the SaaS industry and allowed these companies to expand their presence in their respective markets. They also provided their respective acquirers with valuable assets that would help them remain competitive in the rapidly changing technology landscape.
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