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Medallia Soars on Report It's Exploring a Sale

Medallia reportedly is attracting the attention of private-equity firms.
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Medallia  (MDLA)  was rising following a report that said the enterprise software company is exploring options including a potential sale.

Shares of the San Francisco company were advancing 13.3% to $32.12 on Friday. Trading was halted in the afternoon due to volatility. 

Medallia, which has about 2,000 employees, is working with a financial adviser, Bloomberg reported, citing people familiar with the matter.

Private-equity firms have expressed interest in buying the company, but no final decision has been made and Medallia could opt to remain independent.

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Medallia didn't immediately respond to a request for comment.

In other recent acquisition news:

A group of private-equity investors, led by KKR, agreed earlier this month to a $5.3 billion takeover of the cloud computing and data analytics company Cloudera  (CLDR) .

KKR and Clayton Dubilier & Rice LLC said they would pay $16 a share in cash for Palo Alto, Calif. company.

In April, Proofpoint  (PFPT)  agreed to a takeover deal with private-equity firm Thoma Bravo that valued the cybersecurity company at more than $12 billion.