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Verint Systems Inc. (NASDAQ:VRNT) announced on Monday it entered into a definitive agreement to be acquired by private equity firm Thoma Bravo in an all-cash deal valued at $2 billion.
Under the terms, shareholders will receive $20.50 per share, representing an 18% premium to Verint's unaffected stock price before reports of a possible sale in late June. The deal, which was unanimously approved by Verint's board, is expected to close before the end of the company's current fiscal year.
Once finalized, Verint will become a privately held company, and its shares will be delisted from public exchanges. The firm also said it will suspend quarterly earnings calls, halt financial guidance, and discontinue its stock repurchase program during the transition.
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CEO Dan Bodner said the agreement affirms Verint's leadership in customer experience automation, highlighting that AI-driven solutions now account for half of the company's recurring revenue. "We look forward to extending our category leadership together with Thoma Bravo," Bodner said.
Mike Hoffmann, a Partner at Thoma Bravo, called Verint's enterprise platform and customer base a strong fit for the firm's portfolio. Following the acquisition, Verint will be integrated with Calabrio, another Thoma Bravo company, to build what the firm described as one of the broadest AI-powered customer experience platforms in the industry.
The merger will be completed through a Thoma Bravo-controlled entity and does not depend on financing. Shareholders and directors holding about 14.5% of Verint's voting power have already agreed to support the deal.
Related ETFs: Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ), and Invesco QQQ Trust (NASDAQ:QQQ).
Price Action: VRNT shares are trading lower by 1.23% to $20.20 at last check Monday.
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