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

Thoma Bravo Managing Partner Holden Spaht says the private equity firm sees a chance to accelerate Dayforce’s growth by taking the company private in the $12.3 billion deal. He joins Caroline Hyde and Dani Burger on “Bloomberg Tech.