February 04, 2026

Dayforce taken private by Thoma Bravo for US$12.3 billion

Goodmans LLP advised Dayforce, Inc. as Canadian counsel in connection with its acquisition by Thoma Bravo in an all-cash transaction with an enterprise value of US$12.3 billion.

This transaction provided immediate and substantial value to Dayforce stockholders, and allowed Thoma Bravo to accelerate its business as the human capital management (HCM) leader for a world of work shaped by AI. Dayforce continues to operate under its name and brand.

Dayforce Inc. specializes in HCM software, selling payroll and other human-resources services, including benefits and work force and talent management administration, on a single online subscription-based platform. The company is based in Minneapolis but largely managed out of Canada.

Thoma Bravo is one of the largest software-focused investors in the world.

Goodmans is recognised for its representation of clients in the finance, technology, life sciences and healthcare sectors, advising companies on significant investments, such as strategic investments, growth equity investments and venture funding. The law firm also has notable capabilities outside of Canada, advising clients on cross-border matters often involving the United States and Europe. — Chambers Canada
"Goodmans understands the practical realities that startups face." — Chambers Global
The practice group at Goodmans LLP is routinely called upon by public and private companies, venture capital companies, institutional investors, lenders and government agencies seeking assistance with a range of advisory, transactional and contentious technology mandates. — The Legal 500 Canada
They are extremely diligent and hard-working. They offer very good customer service and solid advice. — Chambers Canada
The Goodmans team is very strong and has a deep bench that is capable of handling complex and sophisticated matters. — Chambers Canada
...a compact investment funds practice that is acknowledged for its representation of domestic and cross-border private equity and pension funds. — Chambers Canada
One client noted, "The team are highly proficient in REITs, including cross-border REITs," adding, "They are also responsive and miss nothing." — Chambers Canada
One client noted, "Goodmans are very responsive," adding "They're good at thinking through new or difficult issues." — Chambers Canada
Clients note, "They are focused on responding in a timely fashion and the advice is user-friendly." — Chambers Canada
A major player in the private equity space....The firm advises on transactions in the private equity secondary market and is recognised for its representation of funds clients in corporate restructuring and recapitalisation mandates. — Chambers Canada
Goodmans represents institutional investors and large private equity firms in cross-border deals on both the buy and sell sides, with industry expertise covering IT, energy, and real estate. — Chambers Canada
The team wins recognition for its experience in the private equity secondary market and has considerable experience in the structuring and formation of funds. — Chambers Canada

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Dayforce taken private by Thoma Bravo for US$12.3 billion

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Dayforce taken private by Thoma Bravo for US$12.3 billion

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