Private equity investment firm Thoma Bravo LLC announced today that it has signed an agreement to acquire business planning software company Anaplan Inc. for $10.7 billion.
The all-cash deal values Anaplan shares at $66, a nice bonus to its closing price of $50.59 per share on Friday.
Founded in 2006, Anaplan bills itself as transforming the way companies across all industries drive business performance. The company offers a cloud-native, connected platform that helps businesses build better plans faster and make better decisions.
Anaplan’s Polaris compute engine and Hyperblock technology are designed to allow customers to see what-if scenarios, contextualize current performance in real time, and predict future outcomes for faster, more confident decisions. Anaplan says its customers gain agility to quickly pivot strategies, redeploy resources, and optimize plans for growth, efficiency, demand, and profitability.
Anaplan’s platform features include the ability to share data across the enterprise, delivering insights and relevant information to stakeholders in real time. With verifiable role-based access, company employees can contribute their expertise and knowledge.
“Anaplan is an undisputed leader in connected planning, solving the critical business priorities of the world’s largest companies as they implement strategic and complex digital transformations,” said Holden Spaht, managing partner at Thoma Bravo, in A declaration. “We’ve been following Anaplan for years and have seen the incredible value they bring to customers through their best-in-class planning platform.”
The acquisition is somewhat surprising, not because Thoma Bravo bought yet another company but because Sachem Head Capital Management took a 9% stake in Anaplan in late February. It was reported at the time that Sachem Head had longer-term plans for Anaplan, including forcing the company to make changes.
Thoma Bravo is a prolific buyer of tech companies. Previous Thoma Bravo acquisitions include Veracode Inc. for $950 million in 2018, cybersecurity company Proofpoint Inc. for $12.3 billion in June, and customer experience company Medallia Inc. for $6.4 billion. dollars in July.
The agreement to acquire Anaplan is expected to close in the first half of 2022, subject to customary closing conditions, including Anaplan shareholder approval and regulatory approval.