Private equity firm Thoma Bravo has announced a definitive agreement to acquire Verint in an all-cash transaction valued at approximately $2 billion. Following the acquisition, Verint will be combined with Calabrio, another Thoma Bravo portfolio company, to create a formidable force in the AI-driven customer experience market.
The transaction, which has been unanimously approved by Verint’s board, is expected to close before the end of Verint’s current fiscal year in early 2026, pending shareholder and regulatory approvals. Upon completion, Verint will become a private company, and its stock will no longer be listed on public exchanges. Verint shareholders will receive $20.50 per share in cash.
The strategic combination of Verint and Calabrio aims to establish a comprehensive CX automation platform, addressing a market estimated to be worth over $50 billion. The unified company will leverage its combined capabilities in workforce performance, conversation intelligence, and CX automation to serve a broad spectrum of the market.
“Verint’s market leading CX Automation platform, enterprise customer base and talented employees position it well to shape the future of customer experience with AI as part of the Thoma Bravo portfolio,” said Mike Hoffmann, a Partner at Thoma Bravo. “The opportunity to automate CX workflows with an AI-powered platform is significant, and the combined company will have the industry’s broadest CX platform arming brands of all sizes with strong AI business outcomes.”
This acquisition underscores Thoma Bravo’s active and long-standing interest in the customer experience sector. The firm’s strategy focuses on investing in high-growth, innovative software and technology companies.
Dan Bodner, Verint CEO and Chairman, commented on the deal, stating, “Thoma Bravo’s investment is a testament to our CX Automation category leadership. Leading brands around the world are reporting strong AI business outcomes with the Verint CX Automation Platform.”
Dave Rhodes, CEO of Calabrio, added, “Together Calabrio and Verint will bring a powerful set of products to accelerate a shared vision: delivering an AI-powered, open CX-platform to customers who are focused on driving strong business outcomes in their operations. As a combined company we are well positioned to lead the industry forward.”
For the financial markets technology sector, this move is another significant play by an investor already active in the space. Thoma Bravo recently partnered with 7RIDGE to become a new investor in Trading Technologies (TT), a leading global provider of capital markets technology platforms. That partnership is aimed at accelerating TT’s growth and its mission to become the “operating system for the capital markets.”
The investment in TT, focused on scaling a mission-critical platform for trading, parallels the strategy evident in the Verint-Calabrio merger: to create a dominant, scaled provider of essential enterprise software. Both transactions highlight Thoma Bravo’s thesis of targeting and scaling industry-leading SaaS platforms to meet growing demand for innovation and reliability.
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