Thoma Bravo Combines Verint and Calabrio

/ AI, Customer Experience, Enterprise Applications, Enterprise Software, SaaS

The News

Thoma Bravo has completed its acquisition of Verint Systems and merged the global CX automation leader with portfolio company Calabrio, forming a comprehensive AI-powered CX platform. The new entity brings together Verint’s open platform and AI bot ecosystem with Calabrio’s cloud-native workforce optimization suite. Leadership transitions see Dan Bodner move to an advisory role, with Mike Lipps as interim CEO and Dave Rhodes continuing as Calabrio CEO.

Analyst Take

Why This Merger Is a Major Signal in CX Automation

The combination of Verint and Calabrio is a direct response to rising enterprise demand for integrated, AI-powered customer experience solutions. Our research shows that organizations are accelerating investments in CX automation, with over 80% of Fortune 100 companies already leveraging platforms like Verint for tangible business outcomes.

  • Market consolidation is intensifying as enterprises seek unified, cloud-native CX platforms.
  • AI-powered automation and analytics are now table stakes for both contact center efficiency and digital channel engagement.
  • Private equity investment is fueling rapid product integration, but execution risk remains high during post-merger transitions.

Strengths and Strategic Rationale

This merger leverages complementary strengths of the companies between Verint’s scale and AI-driven automation with Calabrio’s workforce optimization and agent analytics. The combined platform will:

  • Offer a fully integrated suite spanning WFO, agent engagement, and business intelligence
  • Enable customers to optimize both human and AI-driven interactions across channels
  • Accelerate innovation with increased R&D and operational scale

Challenges and Market Considerations

Despite its promise, the merger faces hurdles typical of large-scale software consolidation. Organizations should closely monitor:

  • Integration of product portfolios and cloud architectures
  • Retention of talent and continuity of customer support during leadership changes
  • Ability to deliver measurable ROI and avoid complexity from platform sprawl

Looking Ahead

The Thoma Bravo combination of Verint and Calabrio marks a strategic moment for the CX automation market, signaling a shift toward comprehensive, AI-powered platforms. Success will depend on seamless integration, rapid innovation, and the ability to deliver real business outcomes for enterprise customers. Enterprises evaluating CX automation strategies should watch this merger as a bellwether for future consolidation and platform evolution in the space.

Authors

  • With over 15 years of hands-on experience in operations roles across legal, financial, and technology sectors, Sam Weston brings deep expertise in the systems that power modern enterprises such as ERP, CRM, HCM, CX, and beyond. Her career has spanned the full spectrum of enterprise applications, from optimizing business processes and managing platforms to leading digital transformation initiatives.

    Sam has transitioned her expertise into the analyst arena, focusing on enterprise applications and the evolving role they play in business productivity and transformation. She provides independent insights that bridge technology capabilities with business outcomes, helping organizations and vendors alike navigate a changing enterprise software landscape.

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  • Paul Nashawaty

    Paul Nashawaty, Practice Leader and Lead Principal Analyst, specializes in application modernization across build, release and operations. With a wealth of expertise in digital transformation initiatives spanning front-end and back-end systems, he also possesses comprehensive knowledge of the underlying infrastructure ecosystem crucial for supporting modernization endeavors. With over 25 years of experience, Paul has a proven track record in implementing effective go-to-market strategies, including the identification of new market channels, the growth and cultivation of partner ecosystems, and the successful execution of strategic plans resulting in positive business outcomes for his clients.

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