Private equity giant Thoma Bravo pays $10.7 billion to acquire Anaplan, an SAP rival and enterprise software firm started in an English barn

U.S. private equity giant Thoma Bravo announced today it has acquired British enterprise software firm Anaplan for $10.7 billion. The deal will see Thoma Bravo pay $66 per share in an all-cash transaction.

The transaction is expected to close in the first half of 2022 providing there are no objections from regulators or Anaplan’s stockholders.

Founded in 2006  in a barn in Yorkshire, England, by Guy Haddleton, Sue Haddleton, and Michael Gould, Anaplan provides a connected planning platform that helps businesses and organizations make better-informed plans and decisions faster. Anaplan boasts over 1,900 customers and is viewed as a competitor to the likes of SAP, Oracle, and Microsoft.

Frank Calderoni, chairman and CEO of Anaplan, said in a statement that the takeover marks the start of a new chapter for the company. “We are confident that Thoma Bravo’s resources and insights will help us accelerate and scale our growth strategy,” he said.

The transaction is expected to close in the first half of 2022 providing there are no objections from regulators or Anaplan’s stockholders. Goldman Sachs and Qatalyst Partners are acting as financial advisors.

“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,” said Frank Calderoni, Chairman & Chief Executive Officer. “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.”

Before going public on the New York Stock Exchange in 2018, Anaplan raised over $240 million in funding from the likes of Amazon- and Tesla-backer Baillie Gifford, as well as Salesforce. It also relocated its headquarters to San Francisco, California.

“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, a Managing Partner at Thoma Bravo. “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.”

Thoma Bravo has more than $103 billion in assets under management.