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

HR software provider Dayforce said on Thursday it would go private in a $12.3 billion deal with Thoma Bravo, as the buyout firm looks to beef up its software portfolio.

HR software provider Dayforce is in advanced talks to be acquired by private equity firm Thoma Bravo at a rate of $70 per share. The acquisition highlights significant consolidation trends in the HR technology sector,

Private equity giant Thoma Bravo is reportedly circling Dayforce, a $1.76B cloud HCM leader, in what could be a landmark deal reshaping enterprise software.

Goldman Sachs (NYSE:GS) has lined up a $6B debt financing package to back private equity firm Thoma Bravo's acquisition of HR software provider Dayforce (NYSE:DAY), with terms still under discussion,