Anaplan to go private in $9.65 bn deal with Thoma Bravo, shares jump
With pandemic-led lockdowns accelerating digital transformations across enterprises, demand for cloud has jumped
Topics
stock markets | Investors
Reuters |
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.)
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First Published: Mon, March 21 2022. 23:15 IST
