Dayforce Inc. today announced that it has agreed to be acquired by private equity firm Thoma Bravo for $12.3 billion.

Private equity firm Thoma Bravo has agreed to buy human resources software provider Dayforce for $12.3 billion, including debt, in a take-private deal that executives hope will help expand on the company's AI capabilities.

Dayforce, an HR software firm, is negotiating its acquisition by Thoma Bravo at $70 per share, amounting to a deal valued at $11.18 billion. This acquisition reflects the growing trend of private equity investments in software firms as they harness AI potential to drive growth and adapt to economic uncertainties.