Thoma Bravo, a software investment firm, has completed its acquisition of Medallia, a specialist in customer and employee experience, in an all-cash transaction valued at $6.4 billion.
The acquisition was previously announced on 26 July, 2021 and approved by Medallia shareholders on 14 October, 2021. Subject to the terms of the merger agreement, Medallia shareholders will receive USD34.00 per share in cash, which represents a premium of approximately 20 per cent to Medallia’s unaffected closing stock price on 10 June, 2021, the last full trading day prior to media reports regarding a possible transaction, and a premium of approximately 29 per cent to Medallia’s unaffected 30-day average price. Medallia’s common stock has ceased trading and is no longer listed on the NYSE. Medallia will remain headquartered in San Francisco.
“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,” says Leslie Stretch, President and CEO of Medallia. “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.”
“With its best-in-class SaaS platform and AI capabilities, Medallia is leading and redefining the experience management market,” says Scott Crabill, a Managing Partner at Thoma Bravo. “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.”
Read more/Source: Private Equity Wire
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