Thoma Bravo’s Expanding Tech Empire
Chicago-based Thoma Bravo, which manages $184 billion in assets as of March 31, has built a reputation as one of the world’s most aggressive and successful private equity firms focused on software and technology.
Managing partner Holden Spaht called Dayforce “a clear category leader” in HCM:
“We see significant opportunity to accelerate growth, deepen customer impact, and continue to drive innovation across the global HCM landscape.”
Closing Timeline and Advisers
The Dayforce $12.3B Thoma Bravo deal has already been approved by Dayforce’s board and is expected to close in early 2026, subject to shareholder and regulatory approvals.
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Financial Advisers: Evercore (Dayforce); Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC (Thoma Bravo).
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Legal Counsel: Wachtell Lipton Rosen & Katz led by Edward D. Herlihy and Brandon C. Price (Dayforce); Kirkland & Ellis team led by Cole Parker and Brad Reed (Thoma Bravo).
This latest acquisition underscores Thoma Bravo’s strategy of betting big on AI-driven platforms that redefine the workplace of the future.
