Law firm Jones Day offers guidance to Verint Systems during its sale to investment firm Thoma Bravo
In a significant move for the customer experience (CX) industry, Verint Systems, a leading technology company specialising in CX automation, has agreed to be acquired by Thoma Bravo, one of the world's largest software-focused investment firms.
The deal, valued at $2 billion, is a definitive agreement and is expected to close before the end of Verint's fiscal year. The transaction will position Verint well to automate CX workflows with an AI-powered platform, shaping the future of customer experience with AI.
Guided by the global law firm Jones Day, the deal will see Verint joining forces with Thoma Bravo portfolio company Calabrio. The Jones Day team, led by corporate practice co-chair Randi Lesnick, M&A partner Braden McCurrach, and private equity associate Bill Sinchuk, has been instrumental in guiding the negotiations.
The Verint CX Automation Platform, which focuses on automating repetitive tasks and processes related to customer interactions using AI, is reported to deliver strong AI business outcomes for leading brands. With this acquisition, the combined company will have the industry's broadest CX platform, arming brands of all sizes with strong AI business outcomes.
Thoma Bravo Partner Mike Hoffmann expressed his belief that Verint will shape the future of customer experience with AI. Verint CEO Dan Bodner is optimistic about extending category leadership with Thoma Bravo. Notably, Verint's AI Annual Recurring Revenue (ARR) now represents 50% of its total ARR.
However, the search results do not provide any information about the names of the persons who led the negotiations for the sale of Verint.
The acquisition is subject to customary closing conditions, including approval by Verint shareholders. Once completed, the combined company is expected to redefine the CX landscape, providing innovative solutions for businesses worldwide.
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