Thoma Bravo Acquires Medallia
Thoma Bravo, a software investment firm, has acquired Medallia, a provider of customer and employee experience solutions, for $6.4 billion.
"Today's announcement underscores our commitment to constant innovation, expansion, and value creation," said Leslie Stretch, president and CEO of Medallia, in a statement. "Since becoming a public company in 2019, we have made significant progress bolstering our leadership position in experience management. Today, Medallia benefits from a differentiated portfolio of cloud technology solutions and an expansive, loyal customer base across a diverse set of industry verticals and geographies. I look forward to our continued outstanding work in support of our customers. Furthermore, we are eager to build on our success and begin the next phase of differentiated growth, and we believe that becoming a private company represents the best opportunity to do just that. In addition to maximizing value for our shareholders, this transaction will enable us to execute on our long-term strategy with even greater effectiveness, efficiency, and flexibility.”
"Medallia has positioned itself at the forefront of the experience management market with a best-in-class SaaS platform that leverages proprietary AI to help companies better understand their customers and employees and drive meaningful business growth at scale" said Scott Crabill, a managing partner at Thoma Bravo, in a statement. "Medallia's ability to provide personalized and predictive insights across every channel and to companies of all sizes has become mission-critical in a rapidly expanding universe of structured and unstructured data, where more and more business is transacted digitally. We look forward to partnering with Leslie and the talented Medallia team and applying our operational and investment expertise in software to support the company in the next phase of its growth journey."
"Medallia not only created the category of experience management but continues to re-define it through innovation, having built a unified, action-oriented platform with the most comprehensive signal capture technology on the market," said Peter Stefanski, a principal at Thoma Bravo, in a statement. "Medallia products are used extensively from the front line to the C-suite in enabling users to improve experiences in real time with valuable data and insights. In a world where enterprises are only beginning to understand the power of using experience data to run their businesses, we are excited to support Medallia as it continues to capitalize on a massive, growing market opportunity."