The company closed at $20.47 on Friday, giving it a market valuation of $1.23 billion, according to LSEG data.

An agreement could be announced as early as Monday, according to the report, which added that no final decision has been made and talks may collapse or the timing and terms could still change.

Reuters could not immediately verify the report. Thoma Bravo and Verint did not respond to a request for comment outside regular business hours.

Thoma Bravo, which had about $184 billion in assets under management as of March 31, is among the largest software-focused investors globally. The private equity firm has acquired or invested in more than 530 software and technology companies.

Earlier this month, it bought human resources software provider Dayforce, for $12.3 billion, including debt, marking one of Thoma Bravo’s largest take-private deals.

Verint Systems, based in Melville, New York, describes itself as a leader in customer experience automation and lists Google, Microsoft, and Lyft among its clients, according to the company’s website. (Reporting by Angela Christy and Mrinmay Dey in Bengaluru; Editing by Sumana Nandy and Rashmi Aich)