Private equity firm Thoma Bravo has agreed to buy enterprise software firm Anaplan for $10.7 billion.

Anaplan, based in San Francisco, provides subscription-based business planning software.

The UK-founded company launched in 2006 and made an initial public offering (IPO) in 2018.

The deal will see Anaplan’s investors receive $66 per share.

The past year has seen Thoma Bravo make numerous acquisitions in the software space.

In April, Thoma Bravo agreed to buy cybersecurity firm Proofpoint in an all-cash deal that valued the company at around $12.3 billion.

The deal was at the time the largest private equity takeover of a software company.

“We are thrilled to partner with Thoma Bravo to build on the strength of our innovative platform and capitalise on the massive opportunity and incredible demand we are seeing,” said Frank Calderoni, chief executive at Thoma Bravo. “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.”

He added: “We are confident that Thoma Bravo’s resources and insights will help us accelerate and scale our growth strategy.”

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