Thoma Bravo

Leading software-focused private equity firm with $181B+ AUM and 40+ year history, exclusively investing in software and technology companies with focus on categorical leadership.

• Chicago, USA • Est. 1980
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Investment Requirements

Revenue (ARR)
Flexible
Deal Structure
All cash
Target Industries
B2B Software Tech Services
Geographic Focus
North America Europe

Company Overview

Thoma Bravo

What They Buy

  • Target: Software and technology companies exclusively
  • Size: $1B+ valuations (focus on large-scale acquisitions)
  • Focus: Categorical leaders with potential for market consolidation
  • Sectors: Cybersecurity, customer experience, HCM, fintech, healthtech, data & AI
  • Structure: Cash acquisitions with management partnership
  • Geography: Global reach with North America and Europe focus

Recent Major Acquisitions

  • Dayforce: HCM platform ($12.3B, August 2025, largest PE deal of year)
  • Darktrace: Cybersecurity platform ($5.3B, April 2024)
  • Verint: Customer experience management (August 2025)
  • OPEXUS: Government process management (January 2025)
  • Casepoint: Data discovery technology (January 2025)

Track Record

  • Founded: 1980s with 40+ year history in private equity
  • Leadership: Software-focused for 20+ years
  • Scale: $181B+ assets under management (June 2025)
  • Portfolio: ~75 companies, ~555 total transactions
  • Value: ~$285B representative transaction value
  • Philosophy: Partner with management teams to build categorical leaders

Portfolio Companies

Dayforce
Human capital management platform ($12.3B acquisition, August 2025)
Darktrace
Cybersecurity company ($5.3B acquisition, April 2024)
Verint
Customer experience management platform (August 2025)
OPEXUS
Government process management software (January 2025)
Casepoint
Data discovery technology leader (January 2025)

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Last updated: October 6, 2025

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