Investment firm completes acquisition of Medallia
Thoma Bravo has bought CX and EX company Medallia for a staggering $6.4billion.
Medallia shareholders will receive $34.00 per share in cash, approximately 20% to Medallia’s unaffected closing stock price and a premium of 29% to Medallia’s unaffected 30-day average price.
Medallia’s common stock has ceased trading and is no longer listed on the NYSE but the company will remain headquartered in San Francisco.
Leslie Stretch, President and CEO of Medallia, said: “The close of this transaction is an important milestone in Medallia’s history as we embark on our next chapter of growth as a private company.
“I am incredibly proud of all that we have achieved since our founding in 2001 and am confident that our new partnership with Thoma Bravo will catalyse Medallia’s ability to deliver continued innovation to the market, bolster our position as an innovation leader and set us apart as we maximise value for our stakeholders.”
Scott Crabill, a Managing Partner at Thoma Bravo, added: “With its best-in-class SaaS platform and AI capabilities, Medallia is leading and redefining the experience management market.
“We are excited to officially join forces with the Medallia team and look forward to working together to expand the company’s customer reach and begin a new phase of differentiated growth.”
More to follow…