Thoma Bravo Acquires Verint

Thoma Bravo, one of the largest software-focused investors in the world with approximately $184 billion in assets, has acquired Verint in an all-cash transaction valued at $2 billion. Rumors of a potential deal began to surface in early July.

Following the close of the transaction, Verint's assets will be combined with assets from Calabrio, which Thoma Bravo acquired in 2021 for an undisclosed amount. The two companies will form an artificial intelligence-driven customer experience powerhouse in workforce performance, conversation intelligence, and CX automation.

Mike Hoffmann, a partner at Thoma Bravo, said in a statement that his company is "excited to bring these two companies together to lead more innovation and growth in the category. Calabrio and Verint both have powerful product portfolios and go-to-market strategies that cover the needs of a wide spectrum of the market. Together, the combined company will have the industry's broadest CX platform, enabling brands of all sizes to drive transformative, AI-driven outcomes."

"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," said Dave Rhodes, Calabrio's CEO, in a statement.

"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. We are making good progress in delivering AI-powered solutions to an early stage CX automation market," said Verint CEO and Chairman Dan Bodner in a statement. "We look forward to extending our category leadership together with Thoma Bravo."

Thoma Bravo also acquired Medallia , another CX automation company, in 2021 for $6.4 billion, and Sheila McGee-Smith, president and principal analyst of McGee-Smith Analytics, notes that it is peculiar that Medallia's name did not come up in the discussions related to the Verint deal.

Other recent CRM-related acquisitions by Thoma Bravo have included UserTesting, UserZoom, and SailPoint, all three of which took place in 2022.