$18 Billion of SaaS M&A During the Global Banking Crisis: Qualtrics, Cvent, and Momentive Acquisitions.
The global banking crisis of 2008-2009 had a major impact on the economy, but it also had an unexpected effect on the software-as-a-service (SaaS) industry. During this period, there was a surge in mergers and acquisitions (M&A) activity in the SaaS space, with more than $18 billion worth of deals being completed. Three of the most notable acquisitions during this period were Qualtrics, Cvent, and Momentive. Qualtrics is a Utah-based provider of customer experience management software. In 2008, the company was acquired by SAP for $8 billion. This acquisition was