Anaplan acquired by Thoma Bravo in $10.7bn deal

The private equity giant said Anaplan’s innovative platform will be a top priority for the firm

Enterprise cloud software company Anaplan has entered into a definitive agreement to be acquired by private equity powerhouse Thoma Bravo for $10.7bn (€9.6bn).

This latest buy follow's Thoma Bravo's April 2021 acquisition of Proofpoint for $12.3bn.

The transaction is for $66 per share and represents a premium of approximately 46 per cent to the volume weighted average price of Anaplan stock for the five days ending March 18 2022.

"We are thrilled to partner with Thoma Bravo to build on the strength of our innovative platform and capitalise on the massive opportunity and incredible demand we are seeing," said Anaplan chairman and CEO, Frank Calderoni.

"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."

The deal is expected to close in the first half of 2022 subject to customary closing conditions, including approval by Anaplan stockholders and regulatory approval.

Founded in 2006 and headquartered in California, Anaplan develops a cloud-native platform for connected planning.

It generated revenues of $592.2m for its full-year fiscal 2022, a surge of 32.3 per cent year on year.

Thoma Bravo said Anaplan is a "clear leader in connected planning" and aims to accelerate its growth strategy.

It added that Anaplan's innovative platform, time to value, and brand reputation will be priorities for the private equity firm, with the intention to attract and retain customers, employees, and partners to continue leading the large and expanding connected planning segment.

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."