July 26 (Reuters) – Company application business Medallia Inc (MDLA.N) reported on Monday personal fairness agency Thoma Bravo would acquire the enterprise personal for $6.4 billion in hard cash.
Medallia shareholders will acquire $34 for each share in dollars, a high quality of nearly 20% to the stock’s close on June 10, the very last buying and selling working day in advance of media reports that the San-Francisco centered firm was mulling a prospective sale boosted the inventory price.
Medallia, the buyer survey application service provider, that went general public about just two years in the past, competes with the likes of Study Monkey and Qualtrics.
Thoma Bravo is 1 the premier software package-focused private equity corporations with a lot more than $78 billion in assets under management. Its portfolio corporations contain information and facts technologies expert services company SolarWinds Corp (SWI.N) and cybersecurity agency McAfee Corp (MCFE.O).
Medallia’s offer with Thoma Bravo, which is predicted to close this yr, also incorporates a 40-day “go-store” time period whereby the organization can take into consideration choice discounts.
Blackstone Credit history alongside with some money managed by Apollo Money Administration and KKR Credit rating will supply credit card debt financing for the deal.
Morgan Stanley & Co, BoFA Securities and Wells Fargo Securities served as the economical advisers to Medallia.
Medallia shares ended up up 1.2% in premarket trading.
Reporting by Chavi Mehta in Bengaluru Editing by Aditya Soni and Shailesh Kuber
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