VERINT SYSTEMS acquired by THOMA BRAVO
Context
Thoma Bravo entered into a definitive agreement to acquire Verint in an all-cash transaction valued at an enterprise value of $2 billion. Common shareholders are to receive $20.50 per share, representing an 18% premium over the unaffected share price. The deal was structured as a reverse-triangular merger. Upon closing, Thoma Bravo intends to merge Verint with its existing portfolio company, Calabrio, to create the industry's broadest AI-powered CX platform. This consolidation aims to capture the significant opportunity in automating CX workflows for brands of all sizes.
VERINT SYSTEMS, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).
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Target
Verint Systems is a global leader in customer engagement solutions. It provides an AI-powered platform designed to automate customer experience (CX) workflows, helping brands achieve significant business outcomes through artificial intelligence. At the time of the deal, the company reported that its AI Annual Recurring Revenue (ARR) represented 50% of its total ARR, reflecting a successful transition to a cloud-first, AI-driven model. Its solutions are used by leading global brands to manage complex customer interactions across various digital and voice channels.
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REFERENCES
Valuation range: EV 1b - 4b USD
Revenue range: 500M - 1b USD
EBITDA range: 100M - 200M USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: thoma bravo