Verint to Be Acquired by Thoma Bravo in $2 Billion Agreement

The Brief: Verint has entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash transaction valuing the company at $2 billion. Under the terms, Verint shareholders will receive $20.50 per share, representing an 18% premium to the company’s 10-day volume-weighted average price as of June 25, 2025. The acquisition aims to strengthen Verint’s position in the CX automation space by leveraging Thoma Bravo’s software investment expertise. Upon closing, Verint will combine with Calabrio, another Thoma Bravo portfolio company, to expand its AI-powered customer experience solutions. The deal is expected to close before the end of Verint’s fiscal year, subject to shareholder and regulatory approvals.

Read full details of the announcement about Verint’s acquisition by Thoma Bravo at verint.com.

Sources: Thoma Bravo and Verint

Verint to Be Acquired by Thoma Bravo in $2 Billion Agreement

Analyst Perspective: Moving from a public structure to private ownership fundamentally changes how a company can approach strategy. Without quarterly earnings pressure, leadership gains the ability to pursue longer-term goals, including product development and market expansion.

For Verint, this new environment creates space to accelerate its roadmap for AI capabilities. The ability to invest aggressively in research and adopt emerging technologies without market constraints is likely to enhance competitive positioning.

The partnership with Thoma Bravo also adds operational expertise often seen in private equity-backed firms, where optimization and growth planning are prioritized. Integration with Calabrio introduces another layer of strategic advantage, combining two established players in CX automation. While success hinges on seamless execution, the structural benefits of going private can set the stage for more focused innovation and differentiated offerings in the customer experience market.

Transaction Overview

Verint’s planned acquisition by Thoma Bravo places the company’s enterprise value at $2 billion in a cash-only arrangement. Under the deal, common shareholders are set to receive $20.50 for each share, representing an 18% premium over the 10-day average price calculated before reports of a potential sale surfaced. The merger will be executed through a reverse-triangular structure and remains contingent on standard approvals, including regulatory clearance and a shareholder vote. Notably, investors controlling about 14.5% of Verint’s voting power have already committed their support through voting agreements. The company’s board has unanimously backed the transaction, which is expected to finalize before the fiscal year concludes. Once complete, Verint will transition to a private entity and remove its stock from public trading.

Strategic Rationale

This acquisition aims to accelerate innovation within the CX automation market, an area where Verint has established leadership. The company’s AI Annual Recurring Revenue now represents half of its total ARR, highlighting a growing demand for AI-driven customer experience solutions. Through the partnership with Thoma Bravo, Verint will leverage resources to expand its technology portfolio and support enterprise clients in implementing advanced automation strategies. Additionally, the combination with Calabrio is expected to create one of the most comprehensive CX platforms in the industry. This expanded capability aligns with the market trend toward integrated solutions that improve operational efficiency and customer engagement outcomes. The companies intend to deliver scalable, AI-powered workflows for brands across various sectors.

Operational Changes

As part of the transition, Verint will suspend quarterly earnings calls and discontinue issuing quarterly or annual guidance. The company is also halting its share repurchase program in light of the pending acquisition. Upon closing, Verint will operate under private ownership, which is anticipated to provide greater flexibility in pursuing strategic objectives. The integration process with Calabrio will focus on building an expanded solution set for enterprises prioritizing CX automation. These operational adjustments reflect Verint’s shift toward long-term planning and innovation, leveraging the advantages of being part of Thoma Bravo’s portfolio. The change is intended to support sustained development in automation technologies and ensure responsiveness to evolving customer experience demands globally.

Future Outlook for CX Automation and Enterprise Growth

The acquisition of Verint by Thoma Bravo marks a transition toward a more agile operating model that prioritizes innovation and long-term strategy. With private ownership, Verint gains the ability to pursue initiatives without the constraints of public market reporting. This flexibility, combined with Thoma Bravo’s investment expertise, creates an environment suited for accelerating AI-driven solutions and optimizing operational performance. The integration with Calabrio offers the potential to unify complementary technologies, providing clients with a broader range of tools to automate and streamline customer experience processes. As enterprises increasingly invest in automation to meet evolving customer expectations, the combined capabilities of Verint and Calabrio position the organization to deliver advanced solutions at scale. While execution will be critical, the structure of this partnership is designed to strengthen market presence and respond effectively to the growing demand for intelligent CX platforms. The coming years will reveal how this strategic move influences the competitive dynamics within the automation and AI sector.