Key Takeaways
- • Thoma Bravo has acquired Verint Systems for $2 billion in an all-cash transaction, with shareholders receiving $20.50 per share in cash—an 18% premium to the company's unaffected share price as of June 25, 2025.
- • The deal closed on August 25, 2025, marking the end of founder Dan Bodner's 32-year tenure as CEO; upon closing, Verint will merge with Thoma Bravo portfolio company Calabrio to create a unified CX automation platform provider.
- • Verint's AI-driven customer experience automation platform generated 50% of its Annual Recurring Revenue (ARR) from AI products at the time of acquisition, positioning the combined entity to serve an early-stage CX automation market.
- • The combined Verint-Calabrio company will leverage AI capabilities to automate customer experience workflows across enterprise customers, with the merged platform targeting organizations of all sizes seeking AI-powered business outcomes.
- • The transaction represents a strategic consolidation in the software-as-a-service sector, with Thoma Bravo adding a market-leading CX automation vendor to its portfolio of enterprise software investments.
Summary
Thoma Bravo, a leading software-focused private equity firm, completed its acquisition of Verint Systems on August 25, 2025, in an all-cash transaction valued at $2 billion enterprise value. Verint shareholders received $20.50 per share, representing an 18% premium to the company's 10-day volume weighted average share price through June 25, 2025—the last trading day before media reports of a potential sale emerged.
Verint, a customer experience automation software provider headquartered in Melville, New York, has built significant market position around its AI-powered CX Automation Platform. At the time of acquisition, the company reported that AI-related Annual Recurring Revenue (ARR) represented 50% of its total ARR, reflecting strong traction in the artificial intelligence-driven customer experience segment. The company's leadership credited this portfolio shift to strong AI adoption among leading global brands utilizing the Verint platform to achieve measurable business outcomes.
Upon closing, Verint merged with Calabrio, another Thoma Bravo portfolio company, to create a combined entity focused on delivering comprehensive CX automation solutions. Mike Hoffmann, a partner at Thoma Bravo, stated that the merger creates "the industry's broadest CX platform" capable of serving organizations across all sizes with AI-powered customer experience capabilities. The combined platform aims to capitalize on significant market opportunity in automating customer experience workflows using artificial intelligence.
The acquisition marks a leadership transition, with founder and long-tenured CEO Dan Bodner stepping down after 32 years leading Verint. Bodner characterized Thoma Bravo's investment as validation of Verint's category leadership in CX automation, noting the company's progress in delivering AI solutions to what he described as an early-stage market with substantial growth potential. Following the acquisition's close, multiple reports indicated workforce reductions occurred as the company integrated with Calabrio, a typical feature of private equity-backed operational consolidations in the software sector.
Verint, a customer experience automation software provider headquartered in Melville, New York, has built significant market position around its AI-powered CX Automation Platform. At the time of acquisition, the company reported that AI-related Annual Recurring Revenue (ARR) represented 50% of its total ARR, reflecting strong traction in the artificial intelligence-driven customer experience segment. The company's leadership credited this portfolio shift to strong AI adoption among leading global brands utilizing the Verint platform to achieve measurable business outcomes.
Upon closing, Verint merged with Calabrio, another Thoma Bravo portfolio company, to create a combined entity focused on delivering comprehensive CX automation solutions. Mike Hoffmann, a partner at Thoma Bravo, stated that the merger creates "the industry's broadest CX platform" capable of serving organizations across all sizes with AI-powered customer experience capabilities. The combined platform aims to capitalize on significant market opportunity in automating customer experience workflows using artificial intelligence.
The acquisition marks a leadership transition, with founder and long-tenured CEO Dan Bodner stepping down after 32 years leading Verint. Bodner characterized Thoma Bravo's investment as validation of Verint's category leadership in CX automation, noting the company's progress in delivering AI solutions to what he described as an early-stage market with substantial growth potential. Following the acquisition's close, multiple reports indicated workforce reductions occurred as the company integrated with Calabrio, a typical feature of private equity-backed operational consolidations in the software sector.
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