(Bloomberg) — Thoma Bravo agreed to acquire U.S. enterprise software company Anaplan Inc. in a deal valued at $10.7 billion, adding to a string of deals this year by cash-rich private equity firms.
The firm will pay $66 a share in cash, according to a statement Sunday. The valuation is based on 161.5 million fully diluted Anaplan shares.
The acquisition, which has been approved by Anaplan’s board, is expected to close in the first half of 2022 and the company will be delisted from the New York Stock Exchange following its completion.
The whipsawing of technology stocks over the past few months have created buying opportunities for private equity firms. Thoma’s offer is roughly a 30% premium to the $50.59 level where Anaplan shares closed on Friday. The stock has declined about 5% over the past year.
The San Francisco-based company sells subscriptions for cloud-based business planning software and provides analytics services to customers including Zillow and Vodafone.
“We are thrilled to partner with Thoma Bravo to build on the strength of our innovative platform and capitalize on the massive opportunity and incredible demand we are seeing,” Anaplan Chairman and Chief Executive Officer Frank Calderoni said in the statement.
(Updates with number of fully diluted shares in second paragraph)
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