M&A · Tech · Services-Computer Integrated Systems Design
Thoma Bravo to acquire Verint Systems Inc
Announced Aug 25, 2025 · Closed Nov 26, 2025
Deal value$2.00BEV $2.00B
Premium18.0%To unaffected price
EV / Adj. EBITDA9.4x2.2x EV / Revenue
ConsiderationAll cash$20.50 per share
Transaction
- Acquirer
- Thoma Bravo
- Target
- Verint Systems Inc (VRNT)
- Buyer type
- Private equity
- Offer price per share
- $20.50
- Enterprise value
- $2.00B
- Status
- Closed Nov 26, 2025
Deal protections
- Break fee (target pays)
- $50.0M · 2.5%
- Reverse fee (buyer pays)
- $113M · 5.7%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Perella Weinberg, Santander
- To the target
- Jefferies
- Jefferies fee
- $31.8M
Sector context · Tech
- Comparable deals
- 63 in the prior 24 months
- Premium
- 18.0% vs. 37.0% sector median
- EV / Adj. EBITDA
- 9.4x vs. 16.7x sector median
- Break fee
- 2.5% vs. 3.0% sector median
Timeline
- AnnouncedAug 25, 2025
- Proxy filedSep 30, 2025
- Definitive proxyOct 20, 2025
- Shareholder voteNov 18, 2025
- ClosedNov 26, 2025
Valuation · fairness opinions
Trading comparables$17.46$27.96
Trading comparables$17.38$28.73
Precedent transactions$15.91$25.57
Discounted cash flow$18.43$23.99
Offer $20.50
Implied value per Verint Systems Inc share by analysis, from Jefferies.