Software maker Anaplan to go private in $9.65 bln deal with Thoma Bravo

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, U.S., October 12, 2018. REUTERS/Brendan McDermid

March 20 (Reuters) – Software maker Anaplan Inc (PLAN.N) said on Sunday it had agreed to be taken private by Thoma Bravo LP for $9.65 billion in cash, another sign of rising private equity interest in the cloud-based software space.

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

Anaplan makes software that helps businesses model different forecasting outcomes and has more than 1,900 customers worldwide. Its revenue rose by about a third in the year to Jan. 31, while losses widened.

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

Last month, software company Citrix Systems (CTXS.O) said it would be taken private for $16.5 billion including debt by affiliates of Elliott Management and Vista Equity Partners. read more

The news of the Anaplan deal, which has an enterprise value of $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

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