US software investment firm Thoma Bravo announced today that it has entered into a definitive agreement to purchase Verint Systems (Nasdaq: VRNT) in an all-cash deal reflecting an enterprise value of $2 billion. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close before the end of Verint’s current fiscal year, in early 2026.
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Thoma Bravo says it will merge Verint Systems into workforce engagement software company Calabrio, which it owns. Thoma Bravo said, “Following the close of the transaction, Calabrio and Verint will be combined into one company and will be a leading provider of Customer Experience (CX) Automation Solutions to the $50B+ market in which they serve. Together, they will offer an expansive portfolio to advance the critical priorities of CX organizations across the size and complexity spectrum. The combination will create more opportunities for companies to quickly achieve business outcomes in their interactions with customers. Calabrio is fully committed to maintaining and investing in the products that support its installed base and customers’ workflows.”
Verint has a market cap of $1.2 billion thus the deal is at a 60% premium on the company’s market cap but well below the $3.6 billion market cap in 2022.
Dan Bodner has been CEO of Verint for three decades. It provides solutions for call centers that combine analytics and AI and are designed to enhance the user experience. The company is based in the US, and has a development center in Herzliya, where it has 200 employees, out of 3,800 worldwide. Four years ago, Verint spun off its security solutions arm Cognyte Software. Before the spin-off, the company had a market cap of $3.7 billion. Verint itself was spun off from Israeli company Comverse Technology in 2013.
As reported by “Globes”, Thoma Bravo is also currently examining the acquisition of Israeli cybersecurity company Armis, at a valuation of $5 billion. In 2018, Thoma Bravo bought Israeli cybersecurity company Imperva for $2.1 billion, selling it five years later for $3.6 billion.
Published by Globes, Israel business news – en.globes.co.il – on August 25, 2025.
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