December 09, 2025
Thoma Bravo Finalises Verint Takeover
Thoma Bravo has officially completed its acquisition of Verint, closing the deal on November 26, 2025 and moving ahead with its plan to merge the CX automation provider with portfolio company Calabrio, which it acquired in 2021.
The transaction brings together two long-time players in workforce optimisation, analytics and customer engagement technology, creating what Thoma Bravo describes as “the industry’s most comprehensive AI-powered customer experience platform.” The combined business will serve large enterprises and mid-market organisations across customer service automation, workforce engagement management, speech analytics and performance optimisation.
As part of the leadership transition, Verint Chairman and CEO Dan Bodner has stepped into an advisory role. Mike Lipps, Operating Partner at Thoma Bravo, has become Chairman of the Board and interim CEO of Verint. Calabrio CEO Dave Rhodes will continue to lead Calabrio and also report to Lipps as the two businesses integrate operations and product strategy.
Leadership Transition Signals Next Phase
Bodner pointed to the company’s long focus on automation and AI adoption as the foundation for its next stage.
Lipps framed the deal as market-driven rather than consolidation for its own sake, noting the surge in enterprise demand for AI-enabled service platforms as organisations scale support operations while managing rising customer expectations. “By uniting these great teams and product portfolios, the combined company will be uniquely positioned to deliver transformative outcomes for organisations of all sizes,” he said.
Justin Robbins, Founder and Principal Analyst at Metric Sherpa, said the takeover marks a leadership reset aimed at faster execution, but warned that integrating Verint and Calabrio will bring short-term disruption and elevated risk.
The merger reflects a broader industry shift toward end-to-end CX stacks that combine operational management, analytics and automation under one roof. Enterprises increasingly want consolidated platforms that reduce vendor complexity while giving frontline agents, both human and AI, shared access to workforce planning tools, customer intelligence and decision support systems.
Integration work between Verint and Calabrio is expected to focus on aligning product roadmaps and sales operations, although no detailed milestones have yet been announced.
