HR software firm Dayforce said on Wednesday it was in advanced discussions to be acquired by Thoma Bravo for $70 per share, as private equity firms look to software as growth drivers in an uncertain economy.

Dayforce, an HR software firm, is negotiating its acquisition by Thoma Bravo at $70 per share, amounting to a deal valued at $11.18 billion. This acquisition reflects the growing trend of private equity investments in software firms as they harness AI potential to drive growth and adapt to economic uncertainties.