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Thoma Bravo / Tanda

Under assessment · Notification · Phase 1 · day 3, due 27 Nov 2026

Financial Services & InsuranceMN-80047ACCC register

US firm Thoma Bravo, LP, through controlled entities, proposes a share acquisition of the Australian Tanda business (EPI Capital Pty Ltd and Tanda HR Services Pty Ltd). Both operate in human capital management software; Tanda specialises in workforce management for shift and hourly workers. Thoma Bravo also supplies this software in Australia via Dayforce Inc.

Timeline

  1. 16 Oct 2026Filed with the ACCC
  2. 27 Nov 2026Decision due

Acquisition details

Thoma Bravo, LP ( Thoma Bravo ), proposes to acquire, through entities it controls, EPI Capital Pty Ltd, Tanda HR Services Pty Ltd and other entities comprising the Tanda business (together, Tanda ) (the Acquisition ). Thoma Bravo is a US-based investment firm with a focus on software and technology-enabled services businesses. Thoma Bravo supplies human capital management software in Australia through Dayforce Inc., a US-based global company it acquired early in 2026. Tanda is an Australia-based supplier of human capital management software, with a focus on workforce management for shift and hourly workers. Tanda also supplies some products in the UK, US and Canada.

Parties

Acquirer
Commodore MidCo Pty Ltd ACN - 700 215 336, Commodore BidCo Pty Ltd ACN - 700 216 342
Target
EPI CAPITAL PTY LTD ABN - 61 158 472 943, TANDA HR SERVICES PTY LTD ABN - 89 680 252 751
Other parties
Dayforce, Inc SEC - 001-38467, Thoma Bravo, LP SEC - 801-73780
ANZSIC
  • 5420 Software Publishing
  • 6240 Financial Asset Investing
  • 6419 Other Auxiliary Finance and Investment Services
  • 6962 Management Advice and Related Consulting Services

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