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    Home»Deals & Transactions»Anaplan agrees $10.7bn sale to private equity firm Thoma Bravo
    Deals & Transactions

    Anaplan agrees $10.7bn sale to private equity firm Thoma Bravo

    March 21, 2022Updated:March 21, 20221 Min Read
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    Deal announced after enterprise software company was targeted by hedge fund-led activist campaign

    Thoma Bravo has agreed to buy enterprise software company Anaplan for $10.7bn, just days after two hedge funds teamed up with a shareholder to launch an activist campaign against the San Francisco-based business.

    The deal was announced after Sachem Head Capital Management and Corvex Management last week disclosed they had built a stake in the UK-founded company alongside JS Capital Management, a fund run by Jonathan Soros, the son of billionaire financier George Soros, and an existing shareholder.

    The firm sidestepped investment banks to arrange a multibillion-dollar financing package from a consortium of private capital providers including Owl Rock Capital, Blackstone, Apollo Global and Golub Capital.

    The deal follows a flurry of private equity-led takeovers in the software sector, including the $14bn buyout of cyber security company McAfee by Advent International and Permira, which was completed this month, and the $16.5bn takeover of Citrix by Elliott Management and Vista Equity in January.

    Read more: FT

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