Private equity giant Thoma Bravo’s plan to buy software company Qualtrics and merge it with rival company Medallia was thwarted by antitrust concerns, according to a report by the Financial Times.
Qualtrics was ultimately sold to private equity firm Silver Lake and the Canada Pension Plan Investment Board in a deal announced last month for $12.5 billion, or $18.15 per share.
Thoma Bravo had tabled a potentially higher-price transaction, but the deal was scuppered due to concerns about a possible lengthy review from US antitrust regulators.
Media reports suggest the private equity firm has also seen delays in its planned purchase of ForgeRock, a multinational identity and access management software company based in San Francisco. The $23.25 per share deal has received a second request from the US Department of Justice, amid concerns over potential concentration in the identity management sector.
