SurveyMonkey announced it has entered into an agreement to acquire Usabilla, an Amsterdam-based website and app survey company, for approximately $80 million.
SurveyMonkey said the deal comprised of a mix of cash and equity and was expected to be accretive to revenue growth. It said the deal was expected to close in the second quarter of 2019.
Usabilla provides Voice of Customer technology that lets customers collect user feedback about website issues.
“Usabilla’s outstanding user experience solution for capturing real-time digital feedback enhances our enterprise offerings and expands our international footprint,” SurveyMonkey CEO Zander Lurie said.
“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,” Lurie said.
SurveyMonkey raised $180 million in a public offering in September. Last month, the company reported a loss of 3 cents per share and its stock price fell after Tim Maly, the chief financial officer and chief operating officer, announced he was retiring in the second quarter. Usabilla was founded in 2009 and has raised $1 million.
SurveyMonkey shares were up modestly midday.
In November, German software giant SAP announced it had agreed to buy survey company Qualtrics for $8 billion, just as Qualtrics was planning an IPO. Qualtrics was viewed as a rival of SurveyMonkey.
“SurveyMonkey’s global reach in over 345,000 organizations, strong brand recognition, and sales expertise will accelerate our growth in new markets and verticals,” Marc van Agteren, CEO of Usabilla, said in a statement. “We share the mission to power the curious and a commitment to building SaaS offerings that help our clients improve their customer experiences.”
The deal is seen to give SurveyMonkey a stronger presence in Europe, with access to Usabilla’s 450 clients, including Lufthansa, Philips, and Vodafone.