News Summary

Dayforce, a Canadian-led HR management software company, is set to be acquired by the United States private equity firm Thoma Bravo in a $12.3 billion USD deal. The acquisition was confirmed shortly after Dayforce disclosed it was in talks with Thoma Bravo. The deal will see Dayforce shareholders receive $70 USD per share, marking a 32% premium over its share price prior to the announcement. The transaction will involve a significant minority investment from a subsidiary of the Abu Dhabi Investment Authority, and is expected to close in early 2026. Dayforce, co-founded by Toronto entrepreneur David Ossip, will continue to operate under its current brand. The company, originally known as Ceridian, went public in 2018 and has recently expanded its AI capabilities by acquiring Toronto-based startup Ideal. This acquisition fits into a broader trend of tech privatization, with Thoma Bravo having previously taken other Canadian firms private. Dayforce competes in the HR software market with major players like Gusto and Workday.