MINNEAPOLIS and TORONTO — Human capital management technology firm Dayforce, Inc. announced Thursday that it has entered into a definitive agreement to be acquired by private equity firm Thoma Bravo in an all-cash transaction valued at $12.3 billion.
Under the agreement, stockholders will receive $70 per share in cash, representing a 32 percent premium over Dayforce’s closing price on Aug. 15, the last trading day before reports of a potential deal. The transaction also includes a minority investment from the Abu Dhabi Investment Authority.
“Dayforce has always stood for a bold promise: to make work life better,” said David Ossip, chair and CEO of Dayforce. “As one of the world’s leading enterprise software investors, Thoma Bravo’s commitment amplifies this promise as we partner to grow our business, increase quantifiable value for customers, and further secure our position in AI as a generational software company.”
Dayforce lead independent director Gerald Throop said the board viewed the agreement as beneficial for shareholders. “The Board of Directors believes this transaction will provide immediate and substantial value to Dayforce stockholders and recognizes the valuable organization that the team has built,” Throop said.
Executives at Thoma Bravo said they saw Dayforce as a substantial growth investment. “We are thrilled to be investing in Dayforce, 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. “Dayforce’s 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.”
The acquisition is expected to close in early 2026, subject to shareholder and regulatory approvals. Once finalized, Dayforce’s stock will be delisted, though the company will continue to operate under its existing name and brand.
Dayforce, which is headquartered in Minneapolis and Toronto, provides HR, payroll, time management, and workforce analytics to organizations worldwide. Thoma Bravo, one of the largest software-focused investors globally, manages approximately $184 billion in assets and has invested in over 500 technology companies.
