With pandemic-led lockdowns accelerating digital transformations across enterprises, demand for cloud has jumped
Last Updated at March 22, 2022 02:00 IST
Shares of Anaplan rose over 28 per cent in early trading on Monday after the software maker agreed to be taken private by Thoma Bravo for $9.65 billion, in a sign of rising private equity interest in the cloud-based software space.
The deal, announced on Sunday, would give Anaplan investors $66 for each share held, a premium of more than 30 per cent over the company’s last closing price on Friday.
With pandemic-led lockdowns accelerating digital transformations across enterprises, demand for cloud has jumped.
While most software companies saw their shares jump last year, Anaplan failed to capitalise on the boom and its shares tumbled over 36 per cent. Anaplan provides planning software as a service to businesses that help in modeling different forecasting outcomes, and has more than 1,900 customers worldwide.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Mon, March 21 2022. 23:15 IST