Enterprise software company Medallia announced today that it will be bought by private equity firm Thoma Bravo. Upon purchase, Medallia will become a private company. The deal is worth $ 6.4 billion.
Medallia shareholders will receive $ 34 per share in cash, which equates to a premium of almost 20% to the closing price on June 10, the last trading day before media reported that the San Francisco-based company was contemplating a potential sale, which pushed up its share price. …
The survey software company Medallia went public just two years ago. It competes with companies like Survey Monkey and Qualtrics.
Thoma Bravo is one of the largest private equity firms specializing in software. It manages assets worth over $ 78 billion. In particular, these are investments in SolarWinds and McAfee.
The deal is expected to be completed this year. In the meantime, Medallia has a 40-day period when the company can consider alternative offers.