Frank Calderoni, CEO of Anaplan.

Adam Jeffery CNBC

US private investment giant Tom Bravo has bought British software firm Anaplan for $ 10.7 billion.

The deal, announced Monday, stipulates that Tom Bravo will pay $ 66 per share in a cash transaction.

Anaplan was founded in 2006 in a barn in Yorkshire, England, by Guy Hadleton, Sue Hadleton and
Michael Gould.

The company’s enterprise software boasts more than 1,900 customers worldwide and is seen as a competitor to both SAP, Oracle and Microsoft.

Frank Calderoni, chairman and CEO of Anaplan, said in a statement that the takeover marks the beginning of a new chapter for the company.

“We are confident that Tom Bravo’s resources and ideas will help us accelerate and scale our growth strategy,” he said.

Tom Bravo has assets under management of more than $ 103 billion.

The deal is expected to close in the first half of 2022 provided there are no objections from regulators or shareholders of Anaplan. Goldman Sachs and Qatalyst Partners act as financial advisors.

Prior to listing on the New York Stock Exchange in 2018 with the ticker “PLAN” Anaplan raised more than $ 240 million in funding from such as Amazon and Tesla fan Bailey Gifford as well as Salesforce. He also moved his headquarters to San Francisco, California.

Over the past 20 years, Thoma Bravo has acquired or invested in more than 375 companies.

Holden Spat, managing partner of Thoma Bravo, said in a statement that his firm has been following Anaplan – which it calls a leader in “connected planning” – for several years.

Anaplan’s share price rose more than 25% to about $ 65 a share on Monday ahead of market trading.

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