SurveyMonkey Enters into an Agreement to Acquire Usabilla

SurveyMonkey (NASDAQ:SVMK) announced that it has entered into agreement to acquire Usabilla to expand its enterprise suite of customer feedback solutions.

As quoted in the text release:

Usabilla empowers over 450 enterprises in 35 countries, including global brands like Lufthansa, Philips, and Vodafone, to collect, analyze, and act on real-time user feedback to improve their products and customer experience. Headquartered in Amsterdam, Usabilla employs over 130 people in Europe, the United States, and Australia.

“Usabilla’s outstanding user experience solution for capturing real-time digital feedback enhances our enterprise offerings and expands our international footprint,” said Zander Lurie, chief executive officer of SurveyMonkey. “Every brand needs to offer a compelling digital experience to win and retain customers—Usabilla’s solution helps companies collect 100,000 feedback interactions daily so they can improve their digital experiences and drive growth. The acquisition of Usabilla strengthens our position in this rapidly growing multi-billion-dollar market. I’m thrilled to welcome the Usabilla team to SurveyMonkey for this exciting new chapter together.”

“SurveyMonkey’s global reach in over 345,000 organizations, strong brand recognition and sales expertise will accelerate our growth in new markets and verticals,” said Marc van Agteren, chief executive officer of Usabilla. “We share the mission to power the curious and a commitment to building SaaS offerings that help our clients improve their customer experiences.”

SurveyMonkey data* shows that 75% of users have left a website and 58% have abandoned an online purchase because of a bug or poor user experience. At the same time, website owners and developers lack visibility on the digital experiences they offer as only a small fraction of customers find a way to give feedback.

Details Regarding the Transaction

Under the terms of the agreement, SurveyMonkey will acquire Usabilla for approximately $80 million, comprised of a mix of cash and equity, and subject to certain purchase price adjustments and customary closing conditions. The acquisition is expected to close in Q2 2019.

Click here for the full text release.