Private equity firm Thoma Bravo has agreed to buy human resources software provider Dayforce for $12.3 billion, including debt, in a take-private deal that executives hope will help expand on the company's AI capabilities.

Dayforce has agreed to be acquired by private-equity firm Thoma Bravo in a deal that values the provider of human-resources software at around $11.2 billion.

Thoma Bravo Managing Partner Holden Spaht says the private equity firm sees a chance to accelerate Dayforce’s growth by taking the company private in the $12.3 billion deal. He joins Caroline Hyde and Dani Burger on “Bloomberg Tech.