(Reuters) – Software maker Anaplan Inc said on Sunday it had agreed to be taken private by Thoma Bravo LP for $9.65 billion in cash, another sign of rising private equity interest in the cloud-based software space.
Anaplan makes software that helps businesses model different forecasting outcomes and has more than 1,900 customers worldwide. Its revenue rose by about a third in the year to Jan. 31, while losses widened.
The highly leveraged buyout is the latest in the software sector, whose rapid growth during the COVID-19 pandemic has attracted interest from private equity players.
Hedge fund Sachem Head Capital Management took a nearly 5% stake in Anaplan last month.
(Reporting by Vishal Vivek and Jahnavi Nidumolu in Bengaluru; Editing by Himani Sarkar and Aditya Soni)