Blackstone Consortium Acquires Medallia, Thoma Bravo Faces $5B Loss

WHO:

Techmeme - A Blackstone-led consortium is involved in the acquisition of Medallia.

Bloomberg Markets - Thoma Bravo is the previous owner of Medallia.

WHAT:

Techmeme - The Blackstone-led consortium agrees to take control of Medallia from Thoma Bravo.

Techmeme - Thoma Bravo will lose the entire $5 billion it invested in Medallia.

Techmeme - The consortium will inject $150 million to help cut Medallia's debt load.

Bloomberg Markets - Medallia is described as an ailing software-as-a-service company.

WHERE:

Techmeme - Medallia is a software company, though specific location details are not provided.

WHEN:

Techmeme - No specific dates are mentioned for the acquisition process or future events.

WHY:

Bloomberg Markets - Thoma Bravo decided not to inject fresh cash into Medallia, leading to the takeover by creditors.

HOW:

Techmeme - The acquisition is being executed by a consortium led by Blackstone, which will also provide financial support to address Medallia's debt.

(UPDATED June 18, 2026 06:40 UTC)

A consortium led by Blackstone is set to acquire Medallia from Thoma Bravo, which will result in Thoma Bravo losing its entire $5 billion investment in the software company. As part of the deal, the consortium plans to inject $150 million to help alleviate Medallia's debt burden, as the company has been described as ailing in the software-as-a-service sector. This takeover comes after Thoma Bravo opted not to provide additional funding to Medallia, paving the way for creditors to step in.