Thoma Bravo, the world’s largest software‑focused investment firm, completed its acquisition of Dayforce Inc. on February 4 2026, paying $12.3 billion in cash. Each Dayforce common‑stock holder received $70.00 in cash per share, and the company’s shares were delisted from the New York and Toronto stock exchanges, ending its public‑market phase.
Dayforce is a global human‑capital‑management (HCM) leader that delivers cloud‑based solutions for HR, payroll, time, talent, and analytics. Its flagship platform is positioned as an AI‑powered people platform, and the company has grown its revenue to $1.76 billion in Q4 2024, up 17% on a constant‑currency basis. The acquisition gives Dayforce access to additional capital to accelerate the development and deployment of its AI capabilities and to expand its market reach.
Thoma Bravo brings a deep history of scaling software businesses, having invested in more than 565 companies and managing over $181 billion in assets as of September 2025. The firm’s expertise in operational leverage, product‑market fit, and strategic growth aligns with Dayforce’s goal of becoming the leading AI‑driven HCM platform. The deal structure is an all‑cash transaction that includes debt and a minority investment from a subsidiary of the Abu Dhabi Investment Authority.
Transitioning to private ownership allows Dayforce to pursue long‑term investments in AI and product innovation without the quarterly earnings pressure of a public market. The additional capital and Thoma Bravo’s resources are expected to accelerate the company’s expansion of its single‑database architecture and AI initiatives, positioning Dayforce to capture a larger share of the growing HCM market.
"Today marks a pivotal moment for Dayforce in advancing our promise to make work life better as the AI‑powered people platform," said David Ossip, Chair and CEO of Dayforce. "With Thoma Bravo’s support, we are even better positioned to scale our business, further customer value, and drive innovation that empowers our community to do the work they are meant to do."
"Dayforce is actively creating the future of HCM, backed by a platform and team that deliver real, measurable results for its customers," said Holden Spaht, Managing Partner at Thoma Bravo. "With demand for intelligent, AI‑driven HR technologies accelerating, we are excited to welcome Dayforce to Thoma Bravo’s portfolio and together unlock their next phase of growth and customer impact."
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