The software manufacturer Anaplan is going into a $9.65 billion deal with Thoma Bravo in the private sector

FILE PHOTO: A banner for Anaplan, Inc. hangs on the facade of the New York Stock Exchange (NYSE) to celebrate the company’s IPO in New York, United States, October 12, 2018. REUTERS/Brendan McDermid

March 21, 2022

(Reuters) – Software maker Anaplan Inc said on Sunday it had agreed to be acquired from Thoma Bravo LP for £9.65 billion.

The deal would net Anaplan investors $66 for each share held, a premium of more than 30% from the company’s last closing price on Friday.

Anaplan makes software that helps companies model various forecasting outcomes and has more than 1,900 customers worldwide. Revenue increased by about a third in the year ended January 31 while losses mounted.

The heavily leveraged buyout is the latest in the software sector, whose rapid growth during the COVID-19 pandemic has attracted the interest of private equity players.

Last month, software company Citrix Systems announced it would be taken private for $16.5 billion, including debt from subsidiaries of Elliott Management and Vista Equity Partners.

News of the Anaplan deal, which is valued at $10.7 billion, was first reported by The Wall Street Journal.

Hedge fund Sachem Head Capital Management took a nearly 5% stake in Anaplan last month.

(Reporting by Vishal Vivek and Jahnavi Nidumolu in Bengaluru; Editing by Himani Sarkar and Aditya Soni)