Blackstone-Led Creditors to Take Over Medallia After Thoma Bravo Declines New Cash

Medallia Inc. is being taken over by a group of creditors led by Blackstone Inc. after its owner Thoma Bravo said it wasn’t going to inject fresh cash into the ailing software-as-a-service company. According to Bloomberg, the takeover follows Thoma Bravo’s decision not to provide additional funding.