The New York and Toronto-listed company’s market cap is $8.4 billion, and its enterprise value (including debt) is over $9 billion.
Private equity firm Thoma Bravo is in talks to acquire human resources management software firm Dayforce, Bloomberg News reported, citing its sources, late Sunday.
The deal could be announced in the coming weeks, the report said, although financial terms are not immediately known.
U.S. shares of Dayforce have slipped over 27% year-to-date, giving the company a market value of about $8.4 billion. According to Bloomberg, the company has $1.2 billion in debt, which pegs its enterprise value at more than $9 billion.
On Stocktwits, the retail sentiment for the stock was ‘neutral’ as of the last reading.
Dayforce emerged from a restructuring of Control Data Corporation in 1992. Previously known as Ceridian HCM Holding, it was listed on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) in April 2018. Its name was changed to Dayforce, and its ticker symbol to “DAY” last year.
The company provides AI-powered software for managing recruitment, payroll, and employee career development, according to its website.
Thoma Bravo, noted for its aggressive software acquisitions, has stayed active in dealmaking despite the market volatility under President Donald Trump.
In April, the PE firm agreed to acquire Boeing’s flight navigation division and other digital assets for $10.6 billion, followed by a $2 billion deal in July to buy restaurant software provider Olo. It is also reportedly in talks for a takeover of Verint Systems.
Dayforce’s pace of growth has slowed of late. Its revenue rose 16.3% last year, and analysts expect an even smaller 10.5% rise this year, compared to over 21% growth in 2023 and 2022. Profit growth has also been slowing.
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