Market Chatter: Blackstone, Apollo, FS KKR to Invest $150 Million in Medallia

MT Newswires Live06-17 19:33

Blackstone (BX), Apollo Global Management (APO) and FS KKR Capital (FSK) are among creditors investing $150 million to take over software firm Medallia after its owner Thoma Bravo indicated it would not inject more funds into the company, Bloomberg reported Wednesday, citing a statement.

The customer and employee service software maker will use the cash as well as $500 million it already has on hand to advance its artificial intelligence efforts, the report said.

Blackstone, Apollo, FS KKR, and Medallia did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment