Thoma Bravo acquires Dayforce

Thoma Bravo has finalized its acquisition of Dayforce, Inc. for approximately $12.3 billion, a strategic move aimed at enhancing the growth trajectory and innovation capabilities of the human capital management (HCM) company. The transaction, which was initially announced in August 2025 and approved by Dayforce shareholders in November, results in Dayforce being delisted from both the New York and Toronto stock exchanges. Shareholders of Dayforce will receive $70 per share in cash as part of the deal's terms.

Dayforce, known for its AI-driven HCM platform that streamlines HR functions, will now operate under the private ownership of Thoma Bravo, a firm specializing in software investments with over $181 billion in assets. Dayforce's leader, David Ossip, states that the partnership will allow the company to scale its offerings and enhance customer value. The focus will be on leveraging AI to empower organizations across various industries to optimize workforce potential.

Thoma Bravo's Managing Partner Holden Spaht emphasized the growing demand for intelligent HR technologies as a driver for the acquisition. He highlighted that Dayforce's existing platform delivers substantial results for clients and sees this acquisition as a means to deepen the HCM provider's market penetration. Partner Tara Gadgil added that they intend to build on Dayforce's commitment to innovation and strong customer relations as a basis for expanding its reach.

In a broader market context, this transaction underscores the increasing interest in AI-infused solutions within the HR technology sector. As organizations globally continue to digitalize workforce management, Dayforce aims to capitalize on this trend with Thoma Bravo's backing. The move represents Thoma Bravo's continued commitment to expanding its portfolio within the technology space, having participated in numerous high-profile deals over recent years.

The acquisition represents a significant shift for Dayforce as it transitions to private ownership, focusing on delivering innovations without the pressures of public market scrutiny. Looking ahead, the company is likely to pursue initiatives to further integrate AI capabilities across its solutions, positioning itself as a leader in next-generation workforce management.