The banking crisis of 2008-2009 had a major impact on the global economy, and the software-as-a-service (SaaS) industry was no exception. As companies scrambled to cut costs and adjust to a new economic reality, many turned to SaaS solutions to help them remain competitive. This shift in focus led to an unprecedented level of mergers and acquisitions (M&A) activity in the SaaS space, with deals totaling over $18 billion. Three of the most notable deals during this period were Qualtrics, Cvent, and Momentive.
Qualtrics is a Utah-based SaaS company that provides customer experience management solutions. In 2009, Qualtrics was acquired by SAP for $8 billion. This acquisition was seen as a major win for SAP, as Qualtrics’ solutions complemented their existing offerings and allowed them to expand their customer base.
Cvent is a Virginia-based SaaS company that provides event management solutions. In 2010, Cvent was acquired by Vista Equity Partners for $1.65 billion. This acquisition was seen as a major win for Vista Equity Partners, as Cvent’s solutions allowed them to expand their portfolio of event management solutions.
Momentive is a New York-based SaaS company that provides enterprise resource planning (ERP) solutions. In 2009, Momentive was acquired by Oracle for $8.5 billion. This acquisition was seen as a major win for Oracle, as Momentive’s solutions allowed them to expand their portfolio of ERP solutions.
The $18 billion of SaaS M&A activity during the banking crisis was a major boon for the industry, as it allowed companies to expand their offerings and reach new markets. The three deals highlighted above are just a few examples of the many deals that occurred during this period, and they demonstrate the potential of SaaS solutions in times of economic uncertainty.
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