Implications of the Qualtrics-PG Forsta Acquisition on the VoC Market
On October 6, 2025, Qualtrics announced its acquisition of Press Ganey Forsta (PG Forsta) for US $6.75 billion, following PG Forsta’s earlier acquisition of InMoment.
This consolidation creates a dominant all-in-one Voice of Customer (VoC) vendor, reshaping the competitive landscape in Australia and New Zealand (ANZ) and globally.
The acquisition strengthens Qualtrics’ position in AI-driven Customer Experience (CX), expands data scale, enhances healthcare expertise, and increases market share for the vendor.
While consolidation at the top introduces short-term challenges, such as integration complexities, and transitional uncertainties, it also drives market innovation and opens opportunities for alternative vendors, emerging players, and complementary technologies.
Organizations must approach vendor selection strategically, balancing scale, innovation, local support and availability, and risk.
This report examines these market shifts, their implications for vendors and organizations, and key considerations for navigating the evolving VoC landscape, with a particular focus on the ANZ market.