Medallia Shareholders to receive $34 per share in cash
Enterprise software firm Medallia Inc. said on Monday that it has entered into a definitive agreement to be acquired by Thomas Bravo, a leading software investment firm, in all cash transaction that values Medallia at $6.4 Billion.
Through this transaction, Medallia will become a private company with additional recourses and greater flexibility to build on its innovation leadership and expand its customer impacts.
Additionally, the transaction will allow Medallia to benefit from the operating capabilities, capital support and deep sector expertise of Thomas Bravo.
Under the terms of agreement, Medallia shareholders will receive $34 per share in cash, a premium nearly 20% to the stock’s close on June 10, the last trading day before media reports that the San Francisco based company was mulling a potential sale boosted the stock price.