According to Bloomberg, as the AI revolution drives disruption in the CRM sector, Thoma Bravo is reportedly having a high level of discussion to win customer relationship software company Verint.
Verint stocks rose 15% in after-hours trading, following the report. The transaction value was not disclosed and the parties declined to comment. The company's market capitalization is now $1.1 billion after its stock price fell 32% from the beginning of the year.
Although based in the US, Verint, originally woven from Israeli commerce in the early 2000s, is led by longtime CEO and chairman Dan Bodner. The company focuses on customer engagement solutions and competes directly with Israeli peers. The companies are under pressure from emerging AI competitors, including Microsoft's new AI-powered CRM tools.
Thoma Bravo, known for acquiring and restructuring the software business, has a strong track record in Israeli technology. The company previously acquired cybersecurity company Imperva for $20 billion and then ended its investment at $3.6 billion.
Verint's business has undergone major changes in recent years. In 2021, cyber and surveillance units were separated into separate company Cognyte. This is currently trading at a market value of around $700 million.
A successful acquisition will strengthen Thoma Bravo's push towards enterprise software amid growing interest in AIRE LED CRM solutions. As transactions progress, potential transactions indicate a growing interest in established software platforms relocated in the AI age.
If you think you missed important news, please feel free to contact us news@pe-insights.com.
Can't you stop reading? read more.
