Thoma Bravo to Acquire Dayforce for $12.3 Billion

Dayforce Inc. (DAY) entered a merger agreement on August 21, 2025, to be acquired by Thoma Bravo in an all-cash deal valued at $12.3 billion.

Deal Structure:

Dayforce stockholders will receive $70 per share in cash, representing a premium of 3.86% from the stock’s last close.

Company Profile:

Dayforce is a global human capital management (HCM) software company that provides an AI-powered cloud platform for human resources, payroll, time, talent, and workforce analytics.

Thoma Bravo is a software-focused investment firm with $184 billion in assets under management, investing in innovative technology companies through private equity, growth equity, and credit strategies.

Deal Details and Timeline:

A few days ago, Bloomberg reported that Thoma Bravo was in talks to acquire Dayforce. The stock was trading at $52.88 before the report came out. This was confirmed by Dayforce yesterday, where it mentioned being in advanced talks for a deal at $70 per share.

The transaction includes a significant minority investment by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

Goldman Sachs is providing the financing for the deal, which is expected to close in early 2026.

Dayforce is going private through this transaction but will continue to operate under the Dayforce name and brand.

Evercore acted as financial advisor, and Wachtell, Lipton, Rosen & Katz served as legal counsel to Dayforce. Goldman Sachs and J.P. Morgan Securities provided financial advisory services to Thoma Bravo, while Kirkland & Ellis served as its legal counsel.

Thoma Bravo is acquiring Dayforce at 43.39 times its EBITDA.

Deal Metrics:

For a more comprehensive insight into this merger and acquisition event, kindly refer to the Deal Metrics page:

Deal Metrics for the acquisition of Dayforce Inc (DAY) by Thoma Bravo

The Deal Metrics page encapsulates:

• Graphical representation of the spread history of the merger from announcement to completion or rejection.
• Key events as the merger progresses, including HSR period expiration, regulatory approvals, shareholder votes, and more.
• Latest news and SEC filings related to the merger.
• A chronology of deal updates.
• And much more.

Disclaimer: This article is intended for informational purposes only. Please conduct your own due diligence prior to buying or selling any securities mentioned herein. We do not guarantee the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article