of 2008
The banking crisis of 2008 had a profound impact on the global economy, and the software-as-a-service (SaaS) industry was no exception. In the wake of the crisis, SaaS companies such as Qualtrics, Cvent, and Momentive saw a surge in mergers and acquisitions (M&A) activity. In total, these three companies were involved in more than $18 billion worth of M&A deals during the banking crisis.
Qualtrics was one of the most active SaaS companies during the banking crisis. The company was acquired by SAP in 2018 for a whopping $8 billion. This was the largest SaaS M&A deal of the banking crisis, and it was a major milestone for Qualtrics. The acquisition allowed Qualtrics to expand its reach and become a major player in the enterprise software market.
Cvent was another SaaS company that saw a surge in M&A activity during the banking crisis. The company was acquired by Vista Equity Partners in 2016 for $1.65 billion. This acquisition allowed Cvent to expand its customer base and become a major player in the event management software market.
Finally, Momentive was also involved in several M&A deals during the banking crisis. The company was acquired by Apollo Global Management in 2010 for $3 billion. This acquisition allowed Momentive to expand its product portfolio and become a major player in the specialty chemicals market.
Overall, the banking crisis of 2008 had a significant impact on the SaaS industry. The three companies mentioned above were involved in more than $18 billion worth of M&A deals during this period, which allowed them to expand their reach and become major players in their respective markets. This surge in M&A activity has helped to shape the SaaS industry as we know it today.
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