Thoma Bravo nearing deal to acquire software firm Dayforce

Private equity firm Thoma Bravo is nearing a deal to acquire HR software company Dayforce, a source familiar with the matter told Reuters on Monday.

Shares of Dayforce, which has seen its stock lose more than 27% of its value so far this year, were up about 29% in late-afternoon trading. Dayforce had a market value of $8.44 billion as of Friday’s closing price.

Dayforce offers a cloud-based human capital management platform that includes payroll, workforce management, benefits, talent management, compliance and analytics.