[US] Dayforce to go private in $12.3 billion acquisition

The US private equity firm Thoma Bravo is set to buy HR software provider Dayforce in a $12.3 billion take-private deal, including debt, that executives hope will help expand on the company's AI capabilities, Reuters reports.

Dayforce operates on a single data platform and utilises AI to help companies forecast matters such as labour demand or predict employee burnout.

David Ossip - Dayforce CEO - spoke to Reuters in an August 21 interview and detailed the deal's benefits.

"Going private gives us more space, flexibility and resources to go much deeper on what matters the most, which is accelerating our focus on being that AI leader in HCM," Mr Ossip said.

Under the deal’s terms, Dayforce shareholders will reportedly receive $70 per share in cash, representing an equity value of $11.18 billion, according to Reuters' calculations. The offer, announced on August 21, represents a premium of 32.4 per cent based on the stock's closing price on August 15, when news of deal talks was first reported.

Source: Reuters

(Quote via original reporting)

The US private equity firm Thoma Bravo is set to buy HR software provider Dayforce in a $12.3 billion take-private deal, including debt, that executives hope will help expand on the company's AI capabilities, Reuters reports.

Dayforce operates on a single data platform and utilises AI to help companies forecast matters such as labour demand or predict employee burnout.

David Ossip - Dayforce CEO - spoke to Reuters in an August 21 interview and detailed the deal's benefits.

"Going private gives us more space, flexibility and resources to go much deeper on what matters the most, which is accelerating our focus on being that AI leader in HCM," Mr Ossip said.

Under the deal’s terms, Dayforce shareholders will reportedly receive $70 per share in cash, representing an equity value of $11.18 billion, according to Reuters' calculations. The offer, announced on August 21, represents a premium of 32.4 per cent based on the stock's closing price on August 15, when news of deal talks was first reported.

Source: Reuters

(Quote via original reporting)