TPG Teams Up With TA to Buy Thoma Bravo’s Planview

TPG and TA Associates are in advanced discussions to acquire software maker Planview from private equity firm Thoma Bravo for more than $1.5 billion, including debt, according to people familiar with the matter.

The deal could be announced as early as this week, the people said, asking not to be identified because the matter is private. Talks could still fall apart.

A representative for TPG declined to comment. Representatives for TA, Thoma Bravo and Planview couldn’t immediately be reached for comment.

Thoma Bravo is going to keep a keep a stake in the company, the people added. It invested in 2017 in Austin, Texas-based Planview, which makes software that helps workers manage projects and resources. Insight Partners retained a minority stake in the company as part of Thoma Bravo’s acquisition in 2017.

The Planview sale is set to take place a few months after Thoma Bravo sold mortgage software maker Ellie Mae for about $11 billion to Intercontinental Exchange Inc.

Another private enterprise software maker, Workfront, announced a deal to be acquired by Adobe Inc. on Monday for $1.5 billion.

Source: Bloomberg