M&A Deal Summary |
|
|---|---|
| Date | 2025-08-21 |
| Target | Paradox |
| Sector | Software |
| Buyer(s) | Workday |
| Sellers(s) |
Thoma Bravo
Stripes Brighton Park Capital |
| Deal Type | Add-on Acquisition |
| Advisor(s) | Qatalyst Partners (Financial) DLA Piper (Legal) |
SEARCH BY
| Category | Company |
|---|---|
| Founded | 2005 |
| Sector | Internet Software and Services |
| Employees | 19,415 |
| Revenue | 8.4B USD (2025) |
Workday is a provider of enterprise cloud applications for finance and human resources. Workday delivers financial management, human capital management and analytics applications designed for companies, educational institutions, and government agencies. Workday's software delivers embedded analytics that capture the content and context of everyday business events, facilitating fast and informed decision-making from wherever users are working. Workday was established in 2005 and is based in Pleasanton, California.
| DEAL STATS | # |
|---|---|
| Overall | 19 of 21 |
| Sector: Software M&A | 7 of 8 |
| Type: Add-on Acquisition M&A Deals | 19 of 21 |
| State: Arizona M&A | 1 of 1 |
| Country: United States M&A | 16 of 17 |
| Year: 2025 M&A | 2 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-08-14 |
FlowiseAI
Beaverton, Oregon, United States Flowise is a low-code platform that makes it easy for anyone to build and manage AI agents from simple conversational experiences to complex agentic workflows. FlowiseAI is based in Beaverton, Oregon. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-09-16 |
Sana
Stockholm, Sweden Sana is an AI company building the next generation of knowledge tools. The products serve over a million users globally and are trusted by the likes of Merck and Polestar. Sana was formed in 2016 and is based in Stockholm, Sweden. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1980 |
| PE ASSETS | 127.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.
| DEAL STATS | # |
|---|---|
| Overall | 85 of 85 |
| Sector: Software M&A | 36 of 36 |
| Type: Add-on Acquisition M&A Deals | 37 of 37 |
| State: Arizona M&A | 3 of 3 |
| Country: United States M&A | 79 of 79 |
| Year: 2025 M&A | 4 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-08-21 |
Dayforce
Minneapolis, Minnesota, United States Dayforce is a global human capital management software company using its cloud HCM platform to provide human resources, payroll, benefits, workforce management, and talent management functionality. It optimizes the management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Dayforce was founded in 1992 and is based in Minneapolis, Minnesota. |
Buy | $12.3B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-08-25 |
Verint
Melville, New York, United States Verint is a provider of Actionable Intelligence solutions to clients. The company's portfolio of Enterprise Intelligence Solutions and Security Intelligence Solutions helps organizations Make Big Data Actionable through the ability to capture, analyze and act on large volumes of rich, complex, and often underused information sources such as voice, video, and unstructured text. Verint was founded in 1994 and is based in Melville, New York. |
Buy | $2.0B |
| Category | Growth Capital Firm |
|---|---|
| Founded | 2008 |
| PE ASSETS | 7.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Stripes is a private investment firm focused primarily on making minority investments in rapidly growing, private companies. Stripes look to commit $10 to $150 million of equity capital per transaction to support acquisitions, growth equity needs, and provide shareholder liquidity. Target companies generally have high margins and operate in large markets. Sectors of interest include branded consumer products, financial services, medical devices, and technology. Stripes is formed in 2008 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 20 of 20 |
| Sector: Software M&A | 1 of 1 |
| Type: Add-on Acquisition M&A Deals | 11 of 11 |
| State: Arizona M&A | 1 of 1 |
| Country: United States M&A | 20 of 20 |
| Year: 2025 M&A | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2024-11-08 |
Vuori
Carlsbad, California, United States Vuori creates performance apparel inspired by the active Coastal California lifestyle–an integration of fitness, yoga, surf, and life. Vuori was formed in 2015 and is based in Carlsbad, California. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-10-30 |
La La Land
Dallas, Texas, United States La La Land is a bright, yellow-branded coffee concept known for its cheerful atmosphere, specialty drinks, and thoughtfully crafted food. La La Land was founded in 2019 and is based in Dallas, Texas. |
Buy | - |
Brighton Park is a growth capital firm focused on opportunities in the software, information services, and technology-enabled services sectors. Brighton Park was formed in 2019 and is headquartered in Greenwich, Connecticut.
| DEAL STATS | # |
|---|---|
| Overall | 2 of 2 |
| Sector: Software M&A | 1 of 1 |
| Type: Add-on Acquisition M&A Deals | 1 of 1 |
| State: Arizona M&A | 1 of 1 |
| Country: United States M&A | 2 of 2 |
| Year: 2025 M&A | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-03-17 |
HITRUST
Frisco, Texas, United States HITRUST is a leader in cybersecurity assurance, specializing in risk management and compliance. The company offers certification programs that validate security, privacy, and AI controls. Its approach is informed by more than 60 standards and frameworks, ensuring relevance and reliability. HITRUST was founded in 2007 and is based in Frisco, Texas. |
Buy | - |
