Thoma Bravo, a leading software investment firm, announced it will purchase software maker Anaplan for $10.7 billion in cash.
The deal would give Anaplan investors $66 for each share held, a premium of more than 30 percent over the company’s last closing price on Friday.
Hedge fund Sachem Head Capital Management took a nearly 5 percent stake in Anaplan last month.
Based in San Francisco, Anaplan has over 175 partners. Anaplan makes software that helps businesses model different forecasting outcomes and has more than 1,900 customers. Its revenue rose by about a third in the year to Jan. 31, while losses widened.
Last month, software company Citrix Systems said it would be taken private for $16.5 billion including debt by affiliates of Elliott Management and Vista Equity Partners.
Thoma Bravo has acquired or invested in more than 375 companies representing over $190 billion in enterprise value — over the past 20 years.