Dayforce Reaches Agreement With Thoma Bravo to Go Private

Thoma Bravo will pay $70 a share in an all-cash deal that values Dayforce at $12.3 billion. (Unsplash)

Dayforce has reached an agreement to be taken private by the private-equity firm Thoma Bravo in an all-cash deal, the human-resources software company announced Thursday.

Thoma Bravo will pay $70 a share for the company—a 32% premium over the its closing price on Aug. 15, the last day prior to reports about a potential takeover. The transaction, which is expected to close in early 2026, values Dayforce at $12.3 billion.

“The board of directors believes this transaction will provide immediate and substantial value to Dayforce stockholders,” said Gerald Throop, lead independent director of Dayforce.

Shares were up 1.1% to $68.12 in premarket trading Thursday. They have climbed sharply since reports of the negotiations, which Dayforce confirmed on Wednesday, first surfaced.

“With Thoma Bravo, we are partnering with a truly special organization to accelerate our business,” Dayforce CEO David Ossip said in a statement.

The company will retain its name and brand after the transaction closes. Thoma Bravo partner Tara Gadgil said the firm would help Dayforce to “move faster, think bigger, and unlock even more market and product potential.”

A subsidiary of the Abu Dhabi Investment Authority, an Emirati sovereign wealth fund, also will make a significant minority investment as part of the deal, Dayforce said.

Write to Nate Wolf at nate.wolf@barrons.com