Verint Systems' (VRNT) acquisition by Thoma Bravo for about $2 billion in cash, at $20.50 per share, is a price considered "reasonable," RBC Capital Markets said in a note emailed Tuesday.

"The transaction has been approved by the Board and is expected to close by fiscal year-end (January 2026), subject to normal closing conditions," RBC said, adding that no competing bids are expected.

Following the acquisition, Verint will be combined with Calabrio, a Thoma Bravo portfolio company, to create a broader artificial intelligence-powered customer experience platform, the note said.

The offer represents an 18% premium to Verint's unaffected share price on June 25 but is roughly in line with recent trading levels. Analysts at RBC said the valuation appears reasonable but noted some investors had anticipated a higher takeout price in the $22 to $24 range, RBC said.

Verint, which has emphasized growth in artificial intelligence-driven annual recurring revenue, will suspend quarterly guidance and earnings calls ahead of the deal's close. Shareholders representing about 14.5% of voting power have already agreed to support the transaction, the note said.

RBC has lowered Verint's rating to sector perform from outperform and reduced its price target to $20.50 from $29.

Price: 20.26, Change: +0.05, Percent Change: +0.27