Thoma Bravo is inching closer to a deal that would transfer control of software provider Medallia to its lenders, effectively erasing $5.1 billion tied to the private equity firm.
Medallia is an AI-driven experience management platform that helps companies capture, analyze, and act on customer and employee feedback in real-time. It gathers data from surveys, social media, mobile, and voice/chat, using AI to identify sentiment and trends to reduce churn and improve engagement. Thoma Bravo purchased the company for $6.4 billion in 2021.
Reuters reports that Medallia has been under recent pressure as investors reassess software assets amid worries that artificial intelligence could reduce demand for some services.
On a February conference call, Blackstone’s private credit chief Brad Marshall said Medallia had been “underperforming, not because of anything related to AI, but due to what we believe to be execution-driven issues.”
“We also expect there to be discussions around …
This post was originally published here
