Thoma Bravo accepts bids for Planview

J.P. Morgan is advising the company on its sale process, which has now entered its second round, the people said.

Thoma Bravo has accepted bids for work and resource management provider Planview, sources familiar with the matter told PE Hub.

J.P. Morgan is advising the company on its sale process, which has now entered its second round, the people said.

Planview, based in Austin, Texas, provides software for organizations that enable strategic planning, portfolio and resource management, new product development, work collaboration and enterprise architecture.

The company generates around $120 million in EBITDA and could fetch a valuation between $1.5 billion and $2 billion in a potential sale, the sources said.

A deal value in that range would likely produce a strong return for Thoma Bravo, having acquired the company from Insight Partners in January 2017 for $800 million, according to news reports published at that time.

Under its three-year ownership, Thoma Bravo has grown Planview through several add-on acquisitions.

In 2018, the company acquired Spigit, a crowdsourced innovation management software provider.

Most recently, in July, Planview acquired Aptage, a software company utilizing Artificial Intelligence (AI) and Machine Learning (ML) technologies.

Several tech firms have launched sale processes recently. Welsh Carson is running a sale process for Clearwater Analytics and GS Growth is selling Information Builders, PE Hub previously reported.

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