$2B Thoma Bravo Acquisition Unites Verint and Calabrio

Thoma Bravo has announced an agreement to acquire Verint in an all-cash transaction valued at $2 billion.

The deal is expected to close in early 2026, subject to customary regulatory approvals. Upon completion, Verint will be combined with Calabrio to form a single company focused on customer experience automation solutions.

Dave Rhodes, Calabrio CEO, commented on the announcement: “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."

The merged business will operate in the $50B+ CX market, offering a broader portfolio designed to support organisations of varying size and complexity.

Both companies plan to continue investing in existing products and customer workflows to maintain continuity for their clients.

Mike Hoffmann, a Partner at Thoma Bravo added: “We have been active in the CX space for many years and are excited to bring these two companies together to lead more innovation and growth in the category.

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.” 

Industry analysts also weighed in on the implications of the merger. Justin Robbins, Founder of Metric Sherpa, noted:

"Verint and Calabrio bring two of the most comprehensive portfolios in the CX technology landscape, each with deep strengths in workforce engagement, analytics, and AI-driven automation.

Bringing them together under one roof creates the potential for a true powerhouse, one positioned to influence how enterprise buyers design and prioritize their CX stacks for years to come.

The ripple effects won’t be limited to these two companies; this combination has the potential to reshape integration strategies, partner dynamics, and investment priorities across the broader ecosystem."

The combination of Verint and Calabrio signals a strategic consolidation in the CX market, creating a company with a wide-ranging platform that leverages AI and automation.

We’ll be publishing more on this story as it develops.