Thoma Bravo CEO: SaaS Companies Are 'The Most Incredible Buying Opportunities Right Now in the Market'

Semafor·high signal

Thoma Bravo CEO Orlando Bravo said at Semafor World Economy on April 15 that beaten-down SaaS companies with niche domain expertise and AI leverage potential represent the best buying opportunities he's seen. The firm closed $42B in acquisitions in 2025, including its largest-ever deal — the $12.3B Dayforce take-private. The combined Thoma Bravo and Vista Equity take-private pipeline is at its highest since 2021, with multi-billion dollar bids reportedly being prepared for mid-cap SaaS companies trading at half their 2024 peaks despite remaining cash-flow positive.