The banking crisis of 2008 had a significant impact on the global economy, and many businesses were forced to make difficult decisions in order to survive. One of the most notable decisions made by some of the world’s leading software-as-a-service (SaaS) companies was to merge or acquire other companies in order to expand their reach and gain a competitive edge. Three of the most notable SaaS mergers and acquisitions during this time period were Qualtrics, Cvent, and Momentive’s $18 billion deals.
Qualtrics, a Utah-based SaaS company, was acquired by SAP in 2018 for $8 billion. This acquisition allowed Qualtrics to expand its reach into new markets and leverage SAP’s existing customer base. The acquisition also allowed Qualtrics to gain access to SAP’s vast resources, including its research and development capabilities. This acquisition was a major win for Qualtrics, as it enabled the company to become a leader in the SaaS industry.
Cvent, a Virginia-based SaaS company, was acquired by Vista Equity Partners in 2016 for $1.65 billion. This acquisition allowed Cvent to expand its presence in the event management space and gain access to Vista’s extensive resources. Cvent was able to leverage Vista’s expertise in technology and marketing to further develop its products and services. This acquisition was a major win for Cvent, as it enabled the company to become a leader in the event management space.
Momentive, a New York-based SaaS company, was acquired by Apollo Global Management in 2009 for $18 billion. This acquisition allowed Momentive to expand its reach into new markets and gain access to Apollo’s vast resources. Momentive was able to leverage Apollo’s expertise in finance and technology to further develop its products and services. This acquisition was a major win for Momentive, as it enabled the company to become a leader in the SaaS industry.
The banking crisis of 2008 had a significant impact on the global economy, and many businesses were forced to make difficult decisions in order to survive. The SaaS mergers and acquisitions of Qualtrics, Cvent, and Momentive during this time period were a testament to the resilience of these companies and their ability to adapt to changing market conditions. These acquisitions enabled these companies to become leaders in their respective industries, and they have since gone on to become some of the most successful SaaS companies in the world.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: Plato Data Intelligence: PlatoAiStream
A Comprehensive Guide to Webinar Marketing: All the Essential Information
Webinar marketing has become an increasingly popular strategy for businesses to connect with their target audience, generate leads, and establish...