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.

Private equity giant Thoma Bravo is eyeing Dayforce in a potential mega-buyout that could shake up enterprise software.

Company led by Toronto’s David Ossip confirms advanced talks for a buyout at US$70 a share, valuing Dayforce at over $11-billion