Thoma Bravo to acquire Verint in $2 billion deal as private equity bets on AI

Thoma Bravo is doubling down on AI. The private equity giant said Monday it will acquire Verint Systems in a $2 billion deal, including debt, marking the latest in a string of software buyouts as investors look to automation to weather an uncertain economy.

The move comes just a week after Bloomberg reported that Thoma Bravo was in talks to buy human resources software provider Dayforce Inc., signaling the firm’s appetite for enterprise platforms built around recurring revenue and data-driven efficiencies.

“Thoma Bravo, a leading software investment firm, announced today that it has entered into a definitive agreement to purchase Verint Systems, Inc. (Nasdaq: VRNT) (“Verint”) in an all-cash transaction reflecting an enterprise value of $2 billion for the company,” Thoma Bravo said in a news release.

With Thoma Bravo Strikes $2B Deal for Verint, Doubling Down on AI Investments

Software companies have become prime targets in recent months. With tariffs, shifting customer budgets, and shaky economic signals creating headwinds, private equity firms are betting that subscription-based models and AI adoption will prove resilient.

Under the agreement, Verint shareholders will receive $20.50 per share in cash. That represents a 4.2% premium over the company’s closing price on June 30, before news of the talks broke, and values Verint’s equity at roughly $1.23 billion. Including debt, the deal lands at $2 billion, Reuters reported.

Verint’s shares slipped 1.2% to $20.23 following the announcement, extending a broader slide that’s seen the stock lose about 25% of its value this year. The company has struggled with slowing revenue and intensifying competition, even as it leaned heavily on its AI-powered platform that helps enterprises manage customer interactions across digital channels.

Still, some analysts see a path forward. “We believe this was a strategic move for both entities as these organizations are closely aligned in terms of customer experience automation that leverages data and AI, with Thoma Bravo already heavily invested in this market,” Wedbush analysts said in a note.

Thoma Bravo has about $184 billion in assets under management and has invested in or acquired more than 530 software and tech firms over the years. Earlier this month, it inked a $12 billion agreement to acquire Dayforce, underscoring its push into workplace and customer experience platforms built on automation and AI.

The Verint acquisition is expected to close before the end of the company’s current fiscal year.