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.

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.