Thoma Bravo-backed Anaplan prepares confidential IPO filing, The Information reports

• Anaplan was originally taken public in 2018 before being acquired by Thoma Bravo in 2022 for $10.4 billion
• Thoma Bravo, which manages over $181 billion in assets, has explored IPOs for other portfolio companies including Ping Identity and Proofpoint in recent months
• The IPO filing amount and target valuation remain undisclosed, and plans could still change according to the report

Summary

Key Development:

U.S. software company Anaplan is preparing to file confidentially for an IPO in the coming weeks, according to The Information. This move comes nearly four years after private equity firm Thoma Bravo took the company private in a $10.4 billion deal in 2022.

Financial Details:

• Original privatization: $10.4 billion (2022)
• Target raise amount and valuation: Not disclosed
• Plans remain subject to change

Company Background:

Anaplan, a software maker, first went public in 2018 before being acquired by Thoma Bravo in 2022. The company operates in the enterprise software sector.

Thoma Bravo's Portfolio Activity:

• Currently manages over $181 billion in assets under management
• Actively exploring exit opportunities across portfolio companies
• Recently took SailPoint Technologies public in February (previous year)
• Considering IPOs for two other portfolio companies: Ping Identity and Proofpoint

Market Implications:

The planned IPO signals renewed appetite for software company offerings and suggests improving market conditions for tech exits. Thoma Bravo's strategic shift toward public listings across multiple portfolio companies indicates the private equity firm is capitalizing on favorable market windows to realize returns on its investments. The timing, approximately four years post-acquisition, aligns with typical private equity holding periods.

Status:

Neither Thoma Bravo nor Anaplan provided immediate comment on the report. The confidential filing process allows companies to privately submit IPO documents with regulators before public disclosure.