Verint To Sell Itself To Thoma Bravo In Deal Valued At $2B

At the transaction’s close, Verint will be merged with Calabrio, the private equity giant’s workforce engagement management software provider.

Verint will go private and sell to Thoma Bravo in an all-cash deal valued at $2 billion and merge with the private equity giant’s Calabrio workforce engagement management software provider.

The Melville, N.Y.-based customer experience automation vendor will join with Calabrio at transaction’s close, which is expected to happen before the end of Verint’s fiscal year Jan. 31. The deal comes down to an 18 percent premium on Verint’s 10-day volume weighted average share price up to June 25, 2025, according to a company statement Monday.

“Thoma Bravo’s investment is a testament to our CX Automation category leadership,” Verint CEO and Chairman Dan Bodner said in a statement. “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.”

Verint Acquisition

Bodner added that AI annual recurring revenue now represents 50 percent of Verint’s total ARR. “We look forward to extending our category leadership together with Thoma Bravo,” he said.

CRN has reached out to Verint and Thoma Bravo for comment.

Verint has more than 1,000 channel partners worldwide, according to CRN’s 2025 Channel Chiefs.

Calabrio also has a partner program that consists of hundreds of strategic vendors, according to the company. Calabrio services partners include CRN Solution Provider 500 members Trace3, Cognizant and C1.

News reports emerged in July about Verint looking for a buyer. At the time, the stock was down about 25 percent year to date, according to Semafor.

Dave Rhodes, CEO of Minneapolis-based Calabrio, said in a statement that “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.”

Verint’s board of directors unanimously approved the deal, which is expected to close before the end of Verint’s fiscal year. A Thoma Bravo-controlled entity will act as the parent in a reverse-triangular merger.

Investment firm Wedbush spoke well of the deal in a report Monday, noting that Calabrio will give Verint “more scale to go after the AI opportunity at hand.” The firm doesn’t expect other bidders or any regulatory issues with the deal.

“We believe this was a strategic move for both entities as these organizations are closely aligned in terms of customer experience automation that leverages data and AI with Thoma Bravo already heavily invested in this market,” according to the report. “We note that the industry has been under immense pressure over the past few months with VRNT struggling as a public company in the past but we believe this is a validation moment for VRNT to partner with one of the most prestigious private equity firms in the world.”

Verint Grows AI ARR

Verint most recently reported earnings for its first fiscal quarter, ended April 30. The vendor saw $710 million in subscription ARR during the quarter, up 6.3 percent year on year.

AI ARR came in at $354 million, up 24 percent year on year. Revenue was $208 million, down about 6 percent year over year, but still beating expectation expectations, according to the company.

For the 2026 fiscal year, Verint said to expect subscription ARR of about $768 million, representing 8 percent growth year on year. The company expects about $960 million in revenue for the fiscal year.

Thoma Bravo revealed in June that it raised $34.4 billion in funds. Deals done since then by the firm include signing an agreement to buy restaurant software-as-a-service platform Olo for about $2 billion in equity value, portfolio company Pendo buying no-code predictive analytics platform provider Forwrd.ai and Darktrace buying Mira Security.

The equity firm bought Calabrio in 2021.

Verint’s stock was flat from Monday market opening to Monday afternoon, trading at about $20 a share.