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Thoma Bravo to take Anaplan private for $10.7bn

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Global buyout major Thoma Bravo has agreed a $10.7bn all cash deal to take software maker Anaplan private.

The transaction, valuing Anaplan’s shares at $66 apiece, represents a premium of 46% to the volume weighted average price of Anaplan for the five trading days last week.

Anaplan’s share prices jumped over 26% to $65.01 in premarket trading on Monday after the news. However, it is only going back to the highs which the company saw in December before stumbling 38% in a month after announcing an unprofitable financial results.

Anaplan provides planning SaaS to businesses that help in modeling different forecasting outcomes, and has more than 1,900 customers worldwide.

Holden Spaht, managing partner at Thoma Bravo, said, “Anaplan is a clear leader in Connected Planning, solving critical business priorities for the world’s largest enterprises as they implement strategic and complex digital transformations.

“We have followed Anaplan for years and have seen the incredible value they bring customers through their best-in-class planning platform. We look forward to leveraging Thoma Bravo’s extensive operational and investment expertise in enterprise software to support Anaplan in its future growth.”

Tara Gadgil, partner at Thoma Bravo, added, “Anaplan has built a tremendously successful business through product innovation and a rigorous approach to delivering value for their customers and partner ecosystem.

“We look forward to working closely with Anaplan’s talented and experienced team to continue delivering cloud-native SaaS solutions at scale.”

The firm said accelerating Anaplan’s strategy, time to value and brand reputation will be priorities for the firm.

Earlier in the month, Thoma Bravo invested into digital user experience company UserZoom at a valuation of $800m.

Thoma Bravo is in the market raising its fifteen flagship fund. It has collected  a $100m commitment from PennSERS and up to $150m from the Texas County & District Retirement System in the past two months.

The firm closed its $17.8bn-Fund XIV vehicle in 2020.

It also raised $3.9bn for its third Discover Fund in late 2020, at the same time as closing Fund XIV.

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