Verint and Calabrio to merge as Thoma Bravo finalizes $2Bn acquisition
NEW YORK, UNITED STATES — The global customer experience landscape is set for a major shakeup after Thoma Bravo revealed plans to buy Verint Systems in a deal worth $2 billion, merging it with Calabrio, another of its companies.
The acquisition, announced this week, will see two big names in customer experience join forces—both pledging to deliver what their new owner calls an “AI-driven customer experience powerhouse.”
Strategic impact on customer experience technology
Verint shareholders will get $20.50 per share in cash, representing a premium of up to 18% compared to recent stock prices. The boards have agreed to the deal, and it’s expected to go through early next year, provided shareholders and regulators give the green light.
Once complete, Verint’s business, which generates annual revenues of over $900 million, will be merged with Calabrio’s operations and customer base to achieve a broader market reach.
Thoma Bravo affirmed the deal supports an ambitious vision.
“Calabrio and Verint both have powerful product portfolios and go-to-market strategies that cover the needs of a wide spectrum of the market. Together, the combined company will have the industry’s broadest CX platform, enabling brands of all sizes to drive transformative, AI-driven outcomes,” Mike Hoffmann, a Partner at Thoma Bravo, stated.
Combining talent, technology, and global reach
Verint, headquartered in Melville, New York, employs roughly 4,000 people and serves around 10,000 clients in 175 countries. It is best known for its open automation platform and AI-driven solutions for large contact centers—technology that’s been adopted by more than 80% of Fortune 100 companies.
“We are making good progress in delivering AI-powered solutions to an early stage CX Automation market, and we recently announced that our AI Annual Recurring Revenue (ARR) now represents 50% of our total ARR. We look forward to extending our [CX Automation] category leadership together with Thoma Bravo,” said Verint CEO and Chairman Dan Bodner.
Calabrio, based in Minneapolis and acquired by Thoma Bravo in 2021, specializes in cloud-based workforce management for contact centers and has been recognized for its rapid growth in the sector.
Dave Rhodes, CEO of Calabrio, underscored the synergy: “Together Calabrio and Verint will bring a powerful set of products to accelerate a shared vision: delivering an AI-powered, open CX-platform to customers who are focused on driving strong business outcomes in their operations. As a combined company we are well positioned to lead the industry forward.”
Outsourcing industry implications
Thoma Bravo, with $184 billion under management, is betting big on automation and AI as the future of customer experience for global clients, outsourcing providers, and BPOs.
By uniting Verint and Calabrio, it aims to provide a more comprehensive suite of AI-driven tools to help organizations of all sizes streamline their operations and better serve their customers worldwide.
