Medallia To Be Taken Private By Thoma Bravo In $6.4 Bln Deal - Quick Facts

Medallia, Inc. (MDLA), the global leader in customer and employee experience, announced Monday that it has entered into a definitive agreement to be acquired by software investment firm Thoma Bravo in an all-cash transaction that values Medallia at $6.4 billion.

Under the terms of the agreement, Medallia shareholders will receive $34.00 per share in cash, which represents a premium of approximately 20% to Medallia's unaffected closing stock price on June 10, 2021, the last full trading day prior to media reports regarding a possible transaction.

Through this transaction, Medallia will become a private company with additional resources and greater flexibility to build on its innovation leadership and expand its customer impact. Medallia's common stock will no longer be listed on any public market upon completion of the transaction.

The Medallia Board unanimously approved the transaction with Thoma Bravo, as it provides Medallia's shareholders with immediate and certain value.

The transaction is expected to close in 2021, subject to customary closing conditions, including approval by Medallia shareholders and receipt of regulatory approvals. The agreement includes a 40-day "go-shop" period expiring on September 4, 2021.

Thoma Bravo has also entered into voting agreements with Medallia's directors and executive officers, and investment funds affiliated with these individuals, which represent approximately 34% of Medallia's outstanding shares. They have agreed to vote in favor of the transaction.

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