On July 26, 2021, Medallia, Inc., a global leader in customer and employee experience, announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, in an all-cash transaction that values Medallia at $6.4 billion. 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. Additionally, the transaction will allow Medallia to benefit from the operating capabilities, capital support, and deep sector expertise of Thoma Bravo. Wilson Sonsini Goodrich & Rosati represented Medallia in the acquisition.

Under the terms of the agreement, Medallia shareholders will receive $34.00 per share in cash, which represents a premium of approximately 20 percent to Medallia’s unaffected closing stock price on June 10, 2021, the last full trading day prior to media reports regarding a possible transaction, and a premium of approximately 29 percent to Medallia’s unaffected 30-day average price.

The acquisition is currently expected to close in 2021, subject to customary closing conditions, including approval by Medallia shareholders and receipt of regulatory approvals.

The transaction is the latest element in the long collaboration between Medallia and Wilson Sonsini, which represented Medallia in its initial public offering in 2019. Since then, the firm has represented Medallia in numerous matters, including a convertible debt offering and multiple acquisitions.

The Wilson Sonsini team that advised Medallia on the transaction includes:

Corporate
Rezwan Pavri
Marty Korman
Doug Schnell
Remi Korenblit
Jackie Hamilton
Tracy Sevush
Eric Chang

Tax
Jonathan Zhu
Derek Wallace

Employee Benefits and Compensation
Scott McCall
Michael Klippert

Technology Transactions
John McGaraghan
Scott McKinney

Employment and Trade Secrets
Jason Storck
Joseph Horne

Real Estate
James McCann
Martin Sul

Corporate Finance
Erik Franks
Dana Hall

Privacy and Cybersecurity
Matt Staples
Daniel Chen

Litigation
Ignacio Salceda

For more information, please see Medallia’s press release.