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Thoma Bravo
Acquirer counsel
Kirkland & Ellis
Cole ParkerPartner
Bradley C. Reed, P.C.Partner
8 lawyers involved
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Kirkland & Ellis advises Thoma Bravo on $12.3 billion acquisition of Dayforce, Inc.
Deal Overview
- Value
- $12.3bn
- Deal type
- M&A
- Structure
- Data in progress
- Status
- Data in progress
Advisors
ACQUIRER
Kirkland & Ellis Overview
- Thoma Bravo is a software-focused investment firm acquiring Dayforce, a global human capital management technology company, in a take-private transaction. Dayforce is positioned as a global leader in HCM technology.
- The deal is structured as an all-cash acquisition that values Dayforce at an enterprise value of about USD 12.3 billion and will take the company private.
- Strategically, the transaction is intended to accelerate Dayforce's growth, customer value and AI leadership in HCM; it was approved by Dayforce stockholders on November 12, 2025, and closed on February 4, 2026.
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Dayforce, Inc.
Seller counsel
Kirkland & Ellis
Alfred XuePartner
Stelios SaffosPartner
Peter SlukaPartner
Jesse SheffPartner
1 lawyer involved
Kirkland & Ellis Overview
- Dayforce is a human capital management technology company, and its CEO positioned the business as aiming to extend its leadership in HCM as AI reshapes the workplace. In this transaction, the target is being taken private by Thoma Bravo.
- The deal is an all-cash take-private with an enterprise value of US$12.3 billion. Dayforce stockholders will receive US$70 per share in cash, representing a 32% premium to the unaffected closing share price on Aug. 15, and the financing includes a significant minority investment from a subsidiary of the Abu Dhabi Investment Authority.
- Dayforce's board approved the transaction, which is expected to close in early 2026. Closing remains subject to customary conditions, including Dayforce stockholder approval and required regulatory approvals.