Thoma Bravo will acquire Verint in a deal valued at $2 billion and combine it with Calabrio in a bet that it can automate customer experience with AI.
Verint shareholders will get $20.50 a share in cash. Verint shares had moved higher on reports of a deal.
Dan Bodner, CEO of Verint, said the Thoma Bravo purchase will enable it to advance its CX Automation Platform and develop AI-driven products.
The plan for Thoma Bravo is to combine Verint's CX platform with Calabrio, which specializes in workforce engagement management software. Mike Hoffmann, a partner at Thoma Bravo, said the combination of Verint and Calabrio will create "the industry’s broadest CX platform arming brands of all sizes with strong AI business outcomes."
Both Calabrio and Verint are on the Constellation Research Shortlist for Contact Center Workforce Engagement Management.
- Constellation ShortList™ Contact Center as a Service (CCaaS)
- Constellation ShortList™ Conversational AI
- Constellation ShortList™ Digital Customer Service and Support
- Constellation ShortList™ Contact Center Workforce Engagement Management (WEM)
Verint was on deck to report second quarter earnings, but will suspend guidance and earnings calls. In April, Verint said that half of its annual recurring revenue was derived from AI-related software. The company projected revenue of $960 million for its fiscal year.
