The deal represents the latest private equity buyout in the software sector, which saw tremendous growth throughout the COVID-19 pandemic. Credit: Getty Images Business planning SaaS (software-as-a-service) software maker Anaplan is being acquired by private equity firm Thoma Bravo for $10.7 billion. Founded in the UK and now based in San Francisco, Anaplan offers cloud-based finance and planning software and counts almost 2,000 customers worldwide, including Coca-Cola, Shell, Thomas Cook and VMware. The company went public in 2018, two years after rival SaaS firm Workday considered an acquisition attempt. Under the terms of the deal, Anaplan shareholders will receive $66 a share in cash, while the company’s current chief executive Frank Calderoni will continue to lead the company. “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,” said Holden Spaht, managing partner at Thoma Bravo said in a press release. “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.” The deal represents the latest in a string of high-profile leveraged buyouts of software companies in the last 18 months. The software sector experienced rapid growth during the COVID-19 pandemic, attracting interest from private equity firms looking to capitalize on this growing trend. In November 2021, Advent International and Permira announced the $14 billion buyout of cybersecurity company McAfee, while Elliott Management and Vista Equity embarked on a $16.5 billion takeover of Citrix in January of this year. Thoma Bravo itself acquired cybersecurity firm Proofpoint for around $12 billion last year. Related content BrandPost Leadership superpower: Succeeding sustainably As today's great leaders recognize, true success is not solely measured by the bottom line but also by the impact a business has on its stakeholders, including employees, partners, and the environment. By Marie Kalliney, Practice Leader, Digital Transformation Services, Broadcom Mar 28, 2023 5 mins IT Leadership BrandPost Helping the C-suite leverage their network as a business-boosting asset By Tanya O'Hara Mar 28, 2023 3 mins IT Leadership Opinion 5 hard questions every IT leader must answer Strong leadership is vital to IT success — and shouldn’t be taken for granted. Continual self-reflection is essential for knowing whether it’s time to restructure your approach to leading IT. By Thornton May Mar 28, 2023 5 mins Business IT Alignment IT Leadership Feature CIOs address the impact of hybrid work Assessing how some of the most progressive CIOs strive to provide both technological and emotional support for a dispersed workforce. By Pat Brans Mar 28, 2023 8 mins CIO Remote Work Employee Experience Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe