Verint, a Nasdaq-listed company specialising in customer experience (CX) automation, agreed to be acquired by Thoma Bravo for $2bn in an all-cash deal.

Under the agreement, Verint shareholders will receive $20.5 per share. This represents an 18% premium over its ten-day volume weighted average share price as of 25 June 2025, the last trading day before media reports about the potential deal surfaced.

Verint CEO and chairman Dan Bodner said: “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, and we recently announced that our AI annual recurring revenue (ARR) now represents 50% of our total ARR.”

The acquisition will facilitate a merger between Verint and Calabrio, another Thoma Bravo-owned company that specialises in CX intelligence. The aim is to create a leading provider of CX automation solutions in a market valued at more than $50bn, according to Thoma Bravo.

The merger is expected to offer comprehensive products to improve business outcomes in customer interactions. Calabrio has stated its commitment to continue supporting its existing products and customer workflows.

Verint’s platform is said to serve over 80 companies from the Fortune 100 list, offering AI-powered solutions aimed at enhancing CX automation. Calabrio provides tools for optimising customer interactions through AI-driven analytics and workforce management.

Thoma Bravo partner Mike Hoffmann said: “We have been active in the CX space for many years and are 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.”

Approval from Verint’s board of directors for the deal was unanimous, and the transaction is expected to conclude in early 2026. This is contingent upon shareholder approval and regulatory clearances.

A Thoma Bravo-controlled entity will conduct the merger via a reverse-triangular process, which does not require financing conditions. Some Verint shareholders have agreed to vote in favour of the acquisition, holding approximately 14.5% of the voting power.

Once the deal is completed, Verint will be delisted from public stock exchanges. The company also plans to suspend quarterly earnings calls and will not provide financial guidance moving forward.