10:35 AM EDT, 08/21/2025 (MT Newswires) -- Dayforce ( DAY ) is set to be acquired by software investment firm Thoma Bravo in a deal that gives the workforce management company an enterprise value of $12.3 billion and will see it taken private.

Shareholders of Dayforce ( DAY ) will receive $70 a share in cash under the terms of the agreement. The acquisition price represents a 32% premium over Dayforce's ( DAY ) closing price on Aug. 15, the last trading day before the publication of media reports about a potential transaction.

The deal, which still requires approval from shareholders of Dayforce ( DAY ) and regulators, is expected to close early next year, according to a statement Thursday. Dayforce ( DAY ) provides human capital management, or HCM, technology for areas including payroll, benefits, and analytics. It had almost 7,000 customers live on its platform though the end of the second quarter, up 4.9% annually, it said earlier this month.

Dayforce's ( DAY ) stock was up 1.8% in morning trading, helping to pare some of the year-to-date loss of almost 10%. The deal follows others that have happened in the HCM industry as companies position for the rising adoption of artificial intelligence-powered workforce tools. In January, Paychex ( PAYX ) struck a deal to buy Paycor HCM (PYCR) for $4.1 billion, while Automatic Data Processing ( ADP ) acquired WorkForce Software in 2024.

Dayforce ( DAY ) is "a clear category leader that is poised to define the future of HCM in the age of AI," said Holden Spaht, a managing partner at Thoma Bravo, which sees "significant" growth opportunity in the HCM space.

"Dayforce's ( DAY ) differentiated platform, global scale, and world-class team make it well-positioned to meet the growing and evolving needs of employers and employees around the world," Spaht said.

When the acquisition is done, Dayforce ( DAY ) will continue operating under its current name and brand, the companies said in the statement. The deal includes a minority investment from a subsidiary of the Abu Dhabi Investment Authority, and will see Dayforce ( DAY ) delisted from all public stock exchanges.

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