Atlanta & London, August 26, 2025 – Global investment firm Carlyle (NASDAQ: CG) and Invesco (NYSE: IVZ), a leading global asset management firm, announced today an agreement for Carlyle to acquire intelliflo from Invesco. intelliflo is a market leading provider of cloud-based practice management software for independent financial advisors (IFAs) in the UK. The transaction includes intelliflo’s US-based subsidiaries, including RedBlack, a provider of SaaS-based portfolio rebalancing tools, and intelliflo Portfolio, a Portfolio Management software solution for US Registered Investment Advisors (RIAs).

The purchase price of up to $200 million is comprised of $135 million at closing, which is expected in the fourth quarter of this year subject to certain closing conditions, and up to an additional $65 million in potential future earn outs.

Founded in 2004 and headquartered in London, intelliflo offers an end-to-end software platform used by over 30,000 professionals at approximately 2,600 advisory firms, supporting the management of approximately £450 billion in client assets. intelliflo’s platform delivers CRM, financial planning, client onboarding, compliance workflows, and reporting functionality. Its cloud-native, multi-tenanted SaaS architecture integrates with over 120 third-party applications. The transaction aims to strengthen intelliflo’s market-leading position in the UK and accelerate its growth in Australia.

As part of the transaction, intelliflo’s US-based subsidiaries will be established as a standalone business called RedBlack, run by a separate management team. This separation will allow both businesses to better serve and focus on their existing customers and markets. intelliflo will focus purely on delivering market leading software and innovation for the UK and Australian markets, and RedBlack will focus solely on delivering for RIAs and other financial advisors in the United States. Carlyle will support the carve-out of both businesses from Invesco and partner with both leadership teams to execute their respective growth initiatives.

Equity for the investment will be provided by Carlyle Europe Technology Partners (“CETP”) V, a €3 billion fund which invests in technology companies across Europe. The CETP team has significant experience in financial software, wealthtech, and vertically focused SaaS, with current and recent investments including SER Group, CSS, SurePay, and Calastone.

Fernando Chueca, Managing Director in the CETP investment advisory team, said: “intelliflo is a mission-critical software provider to the UK’s wealth management ecosystem, with a deeply embedded and loyal customer base. We are excited to partner with Nick, Bryan, and the team to unlock the company’s full potential and deliver a new stage of growth.”

Nick Eatock, CEO and Founder of intelliflo, said: “This is an exciting moment for intelliflo. Carlyle’s investment reflects its trust in our business and its deep experience in scaling software companies make it an ideal partner for our next phase of growth. With Carlyle’s support, we will continue to focus on delivering great value to our clients, with a renewed focus on building innovative solutions for the evolving needs of our core UK and Australian customer bases.”

Bryan Perryman, the CEO of the newly formed RedBlack, said: “Our team is highly motivated by the opportunity to bring our full focus onto the US market as an agile, standalone company. RedBlack has a rich history of delivering market-leading software solutions for our US RIA customer base. We are excited to be backed in this endeavour by a sponsor with the reputation and credentials of Carlyle, which will continue to best position RedBlack to support advisors’ needs.”

Doug Sharp, Senior Managing Director, Head of Americas and EMEA, at Invesco, said: “As intelliflo and the newly incorporated RedBlack embark on their next phases of growth with Carlyle, we are confident that both companies are well-positioned for continued success and innovation in the wealth technology space. We look forward to our continued relationship with intelliflo and RedBlack through our common interaction with wealth advisor clients.”

Evercore served as financial advisor to Invesco and HSF Kramer acted as legal adviser. Altman Solon, PWC, Oliver Wyman and Ringstone conducted due diligence on the acquisition. Gibson Dunn acted as legal counsel to Carlyle.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $465 billion of assets under management as of June 30, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About intelliflo

intelliflo provides market-leading practice management solutions to financial advice firms, supporting over 30,000 users across the UK and internationally. Its core SaaS platform, intelliflo Office, is a central system for CRM, planning, compliance, and client communication. intelliflo is shaping the digital future of financial advice.

About RedBlack

RedBlack is a leading provider of wealth technology and managed services, empowering financial advisors to scale with confidence and deliver superior outcomes for clients. With its award-winning investment management solutions, RedBlack enables financial advice firms of all sizes to enhance their value, streamline operations, and drive growth. Trusted by the wealth management industry for over 15 years, RedBlack supports more than $825 billion in assets across its platforms. Discover how RedBlack is redefining investment management at www.RedBlackSoftware.com.

About Invesco

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed US$2 trillion in assets on behalf of clients worldwide as of June 30, 2025. For more information, visit www.invesco.com/corporate. 

Media Contacts

Carlyle

Nicholas Brown

nicholas.brown@carlyle.com

+44 7471 037 002

Invesco

Jane Drew

Jane.drew@invesco.com

+44 2033 701 104

intelliflo

Rebecca Mayo

intelliflo@lansons.com

+44 7974 177 160

RedBlack

Amber Bush

amber@williammills.com

+1 706 248 6272

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Bencis acquires majority stake in Cadac Group

Investment firm Bencis has acquired a majority stake in automation company Cadac Group from Heerlen. Bencis is taking over approximately 70 percent of the shares from founder Jan Baggen and from development company LIOF, which has been a co-shareholder since 1998.

Bencis is an independent Dutch investment company that invests in medium-sized, successful businesses in the Netherlands, Germany, and Belgium. Bencis supports entrepreneurs in realizing their growth ambitions, with a focus on engaged entrepreneurship and sustainable value creation. Bencis currently has 32 companies in its portfolio, together generating a turnover of €2.5 billion and employing more than 13,000 people.

“For Cadac, Bencis is the best option,” says founder Jan Baggen, who established the company in 1986 and grew it into a leading automation firm with a turnover of more than €66 million last year and nearly 200 employees. “By choosing a private equity partner, changes will be minimal; only the ownership structure of Cadac Group Holding will change.”

Confidence
Jacob Versteeg of Bencis expressed great satisfaction with the transaction:“We look forward to supporting Cadac with its growth ambitions. Cadac is a market leader in automation around design, engineering, and construction software, and is known for the high quality of its services. The company is active in various markets that are particularly interesting due to the increasing demand for automation and integration among chain partners. We therefore have a lot of confidence in Cadac, but above all in the collaboration with Jan Baggen, Paul Smeets (CTO), and the rest of the Cadac team. We have known Jan and his team for a long time and are excited to now intensify our cooperation.”

Two Options
The two parties have been in serious discussions behind the scenes for quite some time. “Since 2024,” explains Baggen. “Despite my love for Cadac and my desire to remain involved with the company forever, I had to be rational and think about Cadac’s future without me. Broadly speaking, I had two options: keep the shares and hope that one of our children would take over the company, or look for a new investor. The first option would have been the most beautiful, but it placed an enormous burden on our family. That’s why we started looking for a new investor. Bencis is the right candidate, I am convinced of that.”

Autodesk
Cadac is one of Autodesk’s largest partners, particularly in the Benelux, Germany, and Southern Europe. Autodesk is an American software company globally recognized for its advanced design, engineering, and construction software, such as AutoCAD and Revit. Digitalization is in full swing in the manufacturing industry, construction sector, and government. Cadac Group’s experts help clients embrace this digital transformation with both Cadac and Autodesk software and related services.
Baggen: “We could have chosen to partner with another major Autodesk partner, but with this transaction we safeguard Cadac’s independence, continuity, and identity. For us, it is important that the current vision and strategy are continued. During our discussions with Bencis, trust has grown. This was not just a financial transaction—it is also about our people and the resources to continue investing and growing.”

LIOF
Development company LIOF, which has been an involved investor, shareholder, and partner of Cadac for more than 25 years, fully supports the sale of its shares.
“We wholeheartedly support this acquisition,” says Siska van Houdt, Manager Investing. “Our collaboration dates back to the period when LIOF was actively investing in the then-emerging ICT sector. Cadac has since grown into a leading Limburg-based company within the ICT industry. The acquisition by Bencis strengthens the foundation for the future. Cadac retains both its international position and its regional ties with Limburg.”

Shares
The share transaction was officially signed on Wednesday, August 27, 2025, by all parties involved.
Jan Baggen will remain CEO of Cadac Group and will retain a quarter of the shares through his holding company TwinPort. Slightly less than 5 percent of the shares will remain with management and several key employees, including CTO Paul Smeets and CFO Astrid van de Sande.

Contact InformationPlease contact Jan Baggen via +31 (0)88-932 2333.
Visit www.cadac.com for more information about Cadac and www.bencis.com for more information about Bencis.

Over the past two years, Attio has grown to 5,000 paying customers, including AI leaders like Lovable, Granola, Modal, and Replicate

Attio, the AI-native CRM for the next era of companies, today announced it has raised $52 million in Series B funding. The round was led by GV (Google Ventures), with participation from existing investors Redpoint Ventures, Point Nine, 01A and Balderton – who first invested in Attio’s seed round in 2021. Attio has raised $116 million to date.

This investment will accelerate Attio’s mission to build the first AI-native CRM that understands every customer and gives teams the power to build their go-to-market systems exactly as they need, at scale.

Since its launch two years ago, Attio has become the CRM of choice for the next generation of companies. 5,000 customers are now building their go-to-market on the platform, including leading AI companies like Lovable, Granola, Modal, and Replicate. The company is on track to 4x ARR this year.

Shaping the next era of CRM

CRM has been the backbone of B2B software for decades, but its foundations haven’t kept up with how business actually works today. As a result, many core go-to-market capabilities were built outside the system, spawning a fragmented ecosystem of thousands of point tools that companies have had to stitch together at great cost. The result for go-to-market builders has been inflexible systems, expensive integrations, and slow innovation.

That era is ending. Two powerful forces are colliding to reshape the market:

1. AI is exposing the limits of legacy architecture. Today’s CRMs were built for a world of static workflows, manual data entry, and human-only operators. Bolting AI onto those foundations can automate tasks, but it can’t remove the structural constraints.
2. AI is empowering a new generation of go-to-market builders and leaders. They’re building alongside AI, creating in days what once took months, and are no longer constrained by vendor roadmaps or 12-month rollouts.

That’s why Attio was built differently from day one: to remove those constraints entirely and give teams an AI-native CRM platform for go-to-market (GTM) that has complete customer context, is endlessly adaptable, and can be shaped by its users.

The primitives of AI-native CRM

To make this possible, Attio is built from the ground up on a new foundation, with AI-native primitives that give teams the freedom to build go-to-market systems that fit exactly how they work. These core building blocks define all next-generation software and are essential for any AI-native CRM:

• Native data ingestion – clean, real-time GTM data from every source, unified in one place — no duplicates or stale records
• Intelligent workflow engine – powerful automation that scales across systems and teams, end-to-end
• Programmable surfaces – APIs, SDKs, and natural language interfaces for building applications, features, integrations, and workflows directly inside the CRM
• Agent collaboration – designed for humans and AI to operate together across every GTM process
• Granular permissions – fine-grained access control across users, data, and AI agents
• Predictive intelligence – context that continuously learns and surfaces the right insights and actions at the right moment

Customers are using native data ingestion to unify accurate, real-time data from across their go-to-market stack, intelligent workflows to automate complex processes in record time, and programmable surfaces like Attio’s App SDK (now in beta) to build and launch apps and new features directly within the platform. Additional primitives, including agent collaboration and advanced permissions, are in active development and will expand capabilities even further as they are released.

What’s next

With its Series B, Attio will scale engineering, fast-track product development, and deliver on its vision to build the CRM that powers the next generation of go-to-market — one that understands every customer, adapts to any team, and gives them the power to shape it to their business.

On the engineering side, Attio will invest heavily in R&D to ship product faster than ever before, with a focus on advanced agent collaboration, granular permissions, and predictive intelligence.

On the go-to-market front, the company will double down on reaching the new generation of GTM builders — giving them the freedom to build and deploy the exact tools they need, without waiting for vendor roadmaps or long implementation cycles.

Investment to Accelerate Irth’s Growth and Customer Value
 
San Francisco, California & Columbus, Ohio – August 26, 2025 – Irth Solutions (“Irth”), a leading provider of enterprise software for critical energy and infrastructure companies, today announced that it has entered into a definitive agreement to be acquired by TPG, a leading global alternative asset management firm. TPG will acquire Irth through TPG Growth, the firm’s middle market and growth equity platform, from Blackstone Energy Transition Partners (“Blackstone”).

Founded in 1985, Irth provides cloud-based software solutions that integrate geospatial data with business intelligence and AI to offer 360-degree situational awareness for infrastructure operators, enabling proactive risk identification, mitigation, and management. Irth’s mission-critical solutions protect the assets of some of the nation’s largest energy, utility, and telecommunications providers, ensuring the safe and reliable delivery of essential services. Its platform serves more than 20,000 daily users, processing more than 130 million work orders and 500 million AI insights annually to detect emerging weaknesses and enable prompt resolutions and proactive interventions that keep critical network infrastructure operational.

“With TPG’s support and extensive software, AI, and infrastructure expertise, we are confident they are the right partner to support our next chapter,” said Brad Gammons, CEO of Irth. “This partnership strengthens our ability to deliver even greater value to the energy, utility, and telecommunications providers we serve. We look forward to building on the success we achieved with Blackstone and working with TPG to accelerate innovation to help our customers strengthen resilience, improve reliability, and navigate the rapidly evolving risks they face each day.”

“Energy and utilities companies face constant pressure to deliver services safely, sustainably, and without interruption for millions each day,” said Aaron Matto, Business Unit Partner at TPG. “Irth’s cloud-based, AI-enabled solutions have proved essential to energy and utility providers in navigating mounting risks by offering data and actionable insights to spot and resolve weaknesses before they escalate and to prevent damages before they occur. TPG has invested behind mission-critical, purpose-built software businesses for decades, and we are excited to partner with Brad and the team to support the continued growth of a company that keeps our infrastructure secure and the world connected.”

“We have been proud to partner with Brad and the entire Irth team since 2021, supporting its continued growth as it serves the ever increasing need for investment, resiliency, and digitalization of critical energy and infrastructure assets,” said Bilal Khan, a Senior Managing Director, and Alex Lue, a Managing Director, at Blackstone. “We look forward to Irth’s continued success with TPG under Brad’s leadership moving forward.
The transaction is subject to customary closing conditions and is expected to close in late 2025.”

Terms of the transaction were not disclosed.

Advisors
Evercore is serving as lead sellside advisor to Blackstone and Irth Solutions, and Lazard is serving as co-advisor. Kirkland & Ellis is serving as legal advisor to Blackstone and Irth Solutions. Cantor Fitzgerald and Lincoln International are serving as financial advisors to TPG, and Weil, Gotshal & Manges LLP is serving as legal counsel.
 
About Irth
Irth, headquartered in Columbus, Ohio, provides enterprise software solutions for critical network infrastructure. It blends geospatial data with business intelligence and AI to offer 360-degree situational awareness. For over 30 years, Irth has served critical infrastructure operators, helping them manage damages, mitigate risk, manage compliance, and optimize asset performance through data-driven insights.

About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $261 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.
 
About Blackstone Energy Transition Partners
Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having committed over $27 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at https://www.blackstone.com/our-businesses/blackstone-energy-transition-partners/.

Contacts
 
Irth
Joshua Fuller
jfuller@irthsolutions.com

TPG
Julia Sottosanti
media@tpg.com

Blackstone
Jennifer Heath
jennifer.heath@blackstone.com

SAN FRANCISCO, CA, August 25, 2025 – Barti Software, a leading AI-powered company that provides innovative electronic health records (EHR) and practice management software built for eye care practices, announced a $12 million Series A investment led by Five Elms Capital. This partnership will enable Barti to scale its go-to-market efforts, grow its team across key functions, and accelerate development of new AI capabilities and workflow automation as Barti expands into ophthalmology. The company will also continue expanding its integrated features to drive greater efficiency for practices and solidify its position as the complete solution for modern eye care.

Co-founded by an optometrist, Barti is built to solve the pain points eye care practitioners face by providing an end-to-end operating system that unifies clinical, operational, and financial workflows – empowering practitioners to focus on caring for their patients with fewer clicks, systems, and administrative needs. “As an optometrist, I’ve seen how software can get in the way of patient care. We built Barti to change that experience and bring the focus back to patient care and the doctor–patient relationship,” said Kelly Cai, OD, COO and Co-Founder of Barti. Eye care practices face mounting pressure from staffing shortages, shrinking reimbursements, and growing online competition – all while juggling disconnected legacy systems that limit growth and burn out providers.

With unique and industry-first functionality, including an AI Scribe tailored for eye care, a native phone/VoiP system, and website management, Barti brings first-of-its-kind software that solves these challenges.

“Today, the eye care industry takes a massive leap forward,” said Colton Calandrella, CEO and Co-Founder of Barti. “This is one of the last sectors of healthcare still burdened with legacy systems. Instead of waiting a decade for modern tools to trickle in, providers using Barti now have access to the latest developments in AI designed specifically for optometrists, opticians, and ophthalmologists.”

With more than 200 practices onboarded in the past three years, Barti has quickly emerged as a leader in eye care technology. Barti is also the first and only company invested in by AOAExcel, the for-profit subsidiary of the American Optometric Association (AOA) delivering member benefits to support optometry practices.

“Our goal is to automate 80%+ of routine admin work through our tools, including AI agents, to enable practitioners to prioritize patient care without being bogged down by tedious administrative tasks,” Calandrella added. “Our AI Agents are quickly approaching the capability to do everything from handling calls, optimizing inventory and pricing, scrubbing and submitting insurance claims, and analyzing clinical images. By 2027, practices will look and sound completely different, with doctors using their voice to manage most of their work and eliminate repetitive tasks. Our goal has always been to provide a business in a box for modern eye care practices using our unique combination of Silicon Valley tech and deep industry expertise. This partnership with Five Elms enables us to double down on that vision by dramatically accelerating our product roadmap, scaling to more practices across the country, and leading the charge into the era of AI.”

“Barti is bringing real product depth to a space long underserved by legacy software,” said Ryan Mandl, Partner at Five Elms Capital. “By embedding AI into the core of its platform, not as a bolt-on but as a foundational layer, Barti delivers automation that feels native to how modern practices work. We’re excited to support their next phase of growth as they continue transforming how providers operate, scale, and serve patients.”

About Barti Software

Barti is on a mission to transform the technology that runs eye care practices. With AI at its core, Barti’s EHR and practice management platform unifies clinical charting, scheduling, billing, phones, payments, marketing, and more into one streamlined system. By eliminating 10+ disconnected tools, Barti empowers eye doctors and staff to operate more efficiently, make smarter business decisions, and spend more time with patients and less time clicking. Learn more at www.barti.com.

About Five Elms Capital

Five Elms Capital is a growth investor in software businesses that users love, providing capital and resources to help companies accelerate growth and further cement their role as industry leaders.

With over $3 billion in assets under management and a team of over 80 professionals, Five Elms has invested in more than 70 software platforms worldwide. Beyond providing capital, Five Elms delivers strategic and operational expertise, focused on executing initiatives that move the needle on growth, retention, product, and AI to set companies up for long-term success. For more information, visit fiveelms.com.

The investment will accelerate Ontic’s mission to deliver Connected Intelligence at scale across enterprise and public sector security

AUSTIN, TX & NEW YORK – August 21, 2025 – Ontic, a leading software platform for connected security intelligence, today announced it has raised $230 million in Series C funding led by funds managed by KKR, a global investment firm, with participation from JMI Equity, Silverton Partners, Ridge Ventures and Ten Eleven Ventures. This latest funding will accelerate Ontic’s investment in artificial intelligence, bringing faster, smarter threat detection and automation to security teams. The company will also grow its international presence and continue advancing its platform to support both global enterprises and the U.S. public sector.

Founded in 2017 and based in Austin, Texas, Ontic has built a holistic platform that helps security teams efficiently monitor, analyze, and respond to physical threats concerning an organization’s personnel and facilities. The company has scaled into a product leader in the security space, servicing a wide range of enterprise customers including Fortune 50 companies across technology, financial services and consumer goods.

As the risk environment becomes more complex, organizations are increasingly prioritizing physical security solutions and working to unify fragmented security operations, reinforcing the demand for Ontic’s Connected Intelligence Platform, which acts as a command center to help security teams shift from siloed, reactive operations to proactive programs that surface meaningful insights, improve response, and support smarter business decisions. Ontic aggregates open-source intelligence (OSINT) and external threat signals alongside internal data from systems like HR, legal, IT, and facilities. Spanning risk intelligence, incident management, investigations and case management, the platform eliminates manual processes and delivers a common operating picture across the entire risk landscape—from executive protection and workplace violence to insider threats and travel risk.

“Security leaders are being asked to do more than ever—track growing volumes of data, work with limited resources, and still show up as strategic partners to the business,” said Lukas Quanstrom, CEO and co-founder of Ontic. “It’s a heavy lift. This investment is about backing them. It’s about giving them a unified platform—powered by AI and built for real-world complexity—that reduces noise, connects the dots, and helps them lead with clarity and confidence in moments that matter.”

Ontic helps protect organizations that collectively generate nearly $30 billion in revenue and employ over 14 million people—giving their security teams the tools to streamline operations and deliver meaningful ROI. Ontic clients report:

• Reducing new staffing needs by 33% and cutting investigation time in half at a major tech company.
• Centralizing incident response across more than 400 locations, reducing inefficiencies and surfacing critical threats earlier for a national grocer
• Savings of more than $4.5M over three years in cost avoidance at a global enterprise.

“Ontic has shown a remarkable ability to support security teams across industries—from multinational enterprises to federal agencies—by addressing the increasingly complex and data-driven nature of security,” said Jake Heller, Partner and Head of Tech Growth Equity, Americas at KKR. “We believe Ontic is setting the standard for what modern security operations should look like. Their platform is built on a foundation of integrated intelligence rather than point solutions and positions them to be a leader in a market that is demanding consolidation, clarity, and scale.”

KKR has established a proven track record of supporting technology-focused growth companies, having invested approximately $24 billion in related investments since 2016 and built a dedicated global team of 28 investment professionals with deep technology growth equity expertise. KKR’s extensive industry experience, local resources, and global network will help further enhance Ontic’s customer offerings and tap into new segments.

This latest funding builds on Ontic’s $40M Series B investment round, which was completed in November 2021. Existing investors JMI Equity, Felicis Ventures, Silverton Partners and Ridge Ventures will continue their participation in the business.

KKR is funding this investment through its Next Generation Technology III Fund.

Kastner Gravelle LLP served as legal advisor to Ontic and Latham & Watkins LLP served as legal advisor to KKR.

About Ontic

Ontic provides software that helps corporate and government security teams identify threats, assess risk, and respond faster to keep people and organizations safe. Its Connected Intelligence Platform unifies security operations and data into a centralized system of record, enabling organizations to conduct risk assessments, protect against workplace violence, and manage threats and incidents more efficiently. Fortune 500 companies and federal agencies rely on Ontic to support security programs such as executive protection, threat intelligence, and corporate investigations. Learn more at ontic.co or follow us on LinkedIn.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media Contacts:

Ontic

Zander Wharton

Sr. Director, Brand and Communications

zwharton@ontic.co

203.733.2815

KKR

Brooke Rustad

Brooke.rustad@kkr.com

Will provide a UTM link for this

Will provide a UTM link for this

Will provide updated UTM link for this

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Dayforce Stockholders to Receive US$70 Per Share in Cash, a 32% Premium to the Unaffected Share Price

Transaction Aims to Accelerate Dayforce’s Growth, Customer Value, and AI Leadership in HCM

MINNEAPOLIS and TORONTO—Dayforce, Inc. (“Dayforce” or the “Company”) (NYSE:DAY) (TSX:DAY), a global leader in human capital management (HCM) technology, today announced that it has entered into a definitive agreement with Thoma Bravo, a leading software investment firm, to become a privately held company in an all-cash transaction with an enterprise value of US$12.3 billion.

Under the terms of the agreement, Dayforce stockholders will receive US$70.00 per share in cash. The per share purchase price represents a premium of 32% over the Company’s unaffected closing share price on August 15, 2025, the last trading day prior to media reports regarding a potential transaction. The transaction includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”).

“Dayforce has always stood for a bold promise: to make work life better. As one of the world’s leading enterprise software investors, Thoma Bravo’s commitment amplifies this promise as we partner to grow our business, increase quantifiable value for customers, and further secure our position in AI as a generational software company,” said David Ossip, Chair and CEO of Dayforce. “With Thoma Bravo, we are partnering with a truly special organization to accelerate our business – with our focus, resources, and product innovation all laser-pointed on leaping forward as the HCM leader for a world of work shaped by AI.”

“The Board of Directors believes this transaction will provide immediate and substantial value to Dayforce stockholders and recognizes the valuable organization that the team has built,” said Gerald Throop, Lead Independent Director of Dayforce.

“We are thrilled to be investing in Dayforce, a clear category leader that is poised to define the future of HCM in the age of AI,” said Holden Spaht, a Managing Partner at Thoma Bravo. “Dayforce’s differentiated platform, global scale, and world-class team make it well-positioned to meet the growing and evolving needs of employers and employees around the world. We see significant opportunity to accelerate growth, deepen customer impact, and continue to drive innovation across the global HCM landscape.”

“Dayforce has built an exceptional business by pairing relentless innovation with a deep commitment to its customers,” said Tara Gadgil, a Partner at Thoma Bravo. “This combination has fueled strong growth and established Dayforce as a partner of choice in HCM. We are excited to build on this strong foundation and momentum alongside them, helping them to move faster, think bigger, and unlock even more market and product potential.”

Transaction Details
The transaction, which was approved by the Dayforce Board of Directors, is expected to close in early 2026, subject to customary closing conditions, including approval by Dayforce stockholders and the receipt of required regulatory approvals. The transaction is not subject to a financing condition.

Upon completion of the transaction, Dayforce’s common stock will no longer be listed on any public stock exchange. The Company will continue to operate under the Dayforce name and brand.

Advisors
Evercore is serving as the exclusive financial advisor to Dayforce and Wachtell, Lipton, Rosen & Katz is serving as the Company’s legal advisor. Financing for the transaction is being provided by Goldman Sachs & Co. LLC. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisors to Thoma Bravo, and Kirkland & Ellis LLP is serving as its legal counsel.

About Dayforce
Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on enabling thousands of customers and millions of employees around the world do the work they’re meant to do. With our single AI-powered people platform for HR, Pay, Time, Talent, and Analytics, organizations of all sizes and industries are benefiting from simplicity at scale with Dayforce to help unlock their full workforce potential, operate with confidence, and realize quantifiable value. To learn more, visit dayforce.com.

About Thoma Bravo
Thoma Bravo is one of the largest software-focused investors in the world, with approximately $184 billion in assets under management as of March 31, 2025. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 535 companies representing approximately $275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York, and San Francisco. For more information, visit Thoma Bravo’s website at www.thomabravo.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian Securities laws (collectively, “forward-looking statements”). Forward-looking statements may be identified by the use of words such as “continue,” “guidance,” “expect,” “outlook,” “project,” “believe” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the benefits of and timeline for closing the merger. These statements are based on various assumptions, whether or not identified in this press release, and on current expectations and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of Dayforce. These forward-looking statements are subject to a number of risks and uncertainties, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction that could delay the consummation of the proposed transaction or cause the parties to abandon the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into in connection with the proposed transaction; the possibility that Dayforce stockholders may not approve the proposed transaction; the risk that the parties to the merger agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the proposed transaction; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Dayforce’s common stock; the risk of any unexpected costs or expenses resulting from the proposed transaction; the risk of any litigation relating to the proposed transaction; and the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Dayforce to retain and hire key personnel and to maintain relationships with customers, vendors, partners, employees, stockholders and other business relationships and on its operating results and business generally. Further information on factors that could cause actual results to differ materially from the results anticipated by the forward-looking statements is included in the Dayforce Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) and Canadian securities regulators on February 28, 2025, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings made by Dayforce from time to time with the SEC and Canadian securities regulators. These filings, when available, are available on the investor relations section of the Dayforce website at https://investors.dayforce.com or on the SEC’s website at https://www.sec.gov. If any of these risks materialize or any of these assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Dayforce presently does not know of or that Dayforce currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. Dayforce assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

Additional Information and Where to Find It
In connection with the proposed transaction between Dayforce and Thoma Bravo, Dayforce will file with the SEC and Canadian securities regulators a preliminary Proxy Statement of Dayforce (the “Proxy Statement”). Dayforce plans to mail to its stockholders and holders of exchangeable shares a definitive Proxy Statement in connection with the proposed transaction. DAYFORCE URGES YOU TO READ THE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT DAYFORCE, THOMA BRAVO, THE PROPOSED TRANSACTION AND RELATED MATTERS. You will be able to obtain a free copy of the Proxy Statement and other related documents (when available) filed by Dayforce with the SEC at the website maintained by the SEC at www.sec.gov. You also will be able to obtain a free copy of the Proxy Statement and other documents (when available) filed by Dayforce with the SEC by accessing the investor relations section of Dayforce’s website at https://investors.dayforce.com or by contacting Dayforce investor relations at investors@dayforce.com or calling (844) 829-9499.

Participants in the Solicitation
Dayforce and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Dayforce stockholders in connection with the merger.

Information regarding the directors and executive officers of Dayforce, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth (i) in Dayforce’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, including under the headings “Proposal One: Election of Directors,” “Executive Team,” “Compensation Discussion and Analysis,” “Executive Compensation Tables,” “Security Ownership of Certain Beneficial Owners and Management” and “Certain Relationships and Related Party Transactions,” which was filed with the SEC on March 13, 2025 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1725057/000172505725000064/day-20250313.htm, and (ii) to the extent holdings of Dayforce’s securities by its directors or executive officers have changed since the amounts set forth in Dayforce’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, such changes have been or will be reflected on Initial Statement of Beneficial Ownership of Securities on Form 3, Statement of Changes in Beneficial Ownership on Form 4, or Annual Statement of Changes in Beneficial Ownership on Form 5 filed with the SEC, which are available at EDGAR Search Results https://www.sec.gov/edgar/browse/?CIK=0001725057&owner=only.

Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents through the website maintained by the SEC at https://www.sec.gov.

Read the release on Globe Newswire here.