Story perspectives

Blackstone, Apollo, KKR Lead Medallia Takeover, Add $500M AI Funding

6/18/2026

Summary

Story summary

Blackstone Inc., Apollo Global Management Inc. and FS KKR Capital Corp are taking control of Medallia Inc. after Thoma Bravo transferred ownership.
The recapitalization adds $150 million, trims debt near $3 billion, and secures a $500 million AI investment to expand generative AI, automation and Frontline-Ready AI™.
The deal should close by end-2026, with CEO Mark Bishof saying the funds will accelerate product development and AI-first transformation while operations stay uninterrupted.

1 of 1

Story summary

Blackstone Inc., Apollo Global Management Inc. and FS KKR Capital Corp are taking control of Medallia Inc. after Thoma Bravo transferred ownership.
The recapitalization adds $150 million, trims debt near $3 billion, and secures a $500 million AI investment to expand generative AI, automation and Frontline-Ready AI™.
The deal should close by end-2026, with CEO Mark Bishof saying the funds will accelerate product development and AI-first transformation while operations stay uninterrupted.