May 20, 2022

Software company Anaplan has announced plans to go private after agreeing a deal to be acquired for $10.7bn by Thoma Bravo, a leading software investment firm.

The deal agreed with Thoma Bravo will pay shareholders $66 per share in an all-cash transaction, over 30% higher than the stock’s closing price on Friday. Upon completion of the acquisition, Anaplan will become a privately held company.

Founded in 2006, Anaplan develops software that helps businesses to model different forecasting outcomes. The San Francisco based company counts Coca Cola, Vodafone and Shell amongst almost 2,000 global customers using its cloud-based business-planning software.

The acquisition is the latest of many in the software sector, a major growth industry during the pandemic as businesses and consumers move more of their activity online in response to the global health threat.

Citrix Systems confirmed in January it would be acquired by affiliates of Elliott Management and Vista Equity Partners for $16.5bn, whilst Advent International Corp. and Permira announced a $12bn deal for McAfee Corp in November.

“We are thrilled to partner with Thoma Bravo to build on the strength of our innovative platform and capitalize on the massive opportunity and incredible demand we are seeing,” said Frank Calderoni, Anaplan’s CEO. “This is a clear validation of our team’s outstanding work and the start of an exciting new chapter for Anaplan, our customers, and our partner ecosystem. We are confident that Thoma Bravo’s resources and insights will help us accelerate and scale our growth strategy.”

Thoma Bravo specializes in buying business-software companies, and manages more than $103bn Last year the firm bought Proofpoint Inc. in a deal worth more than $10bn.

“There’s going to be one huge winner in planning, and we think it can be us,” said Thoma Bravo managing partner Holden Spaht. “I can’t think of a similar opportunity to really create a massive category.”