Verint, a company specializing in customer experience automation, announced that it has entered into a definitive agreement to be acquired by software investment firm Thoma Bravo in an all-cash deal valued at $2 billion. Under the terms, Verint shareholders will receive $20.50 per share, representing an 18% premium to the company’s unaffected share price before reports of a potential sale.
The Verint board unanimously approved the transaction, which is expected to close before the end of the company’s current fiscal year, pending shareholder and regulatory approvals. Certain shareholders representing about 14.5% of voting power have already agreed to support the deal. Upon completion, Verint’s stock will be delisted, and the company will suspend earnings calls, guidance, and its share repurchase program.
Verint Chairman and CEO Dan Bodner stated, “Thoma Bravo’s investment is a testament to our CX Automation category leadership.” Thoma Bravo Partner Mike Hoffmann noted, “At the closing of the transaction, Verint will join forces with Thoma Bravo portfolio company Calabrio. 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.”