Sam Boughedda

The news from the private equity industry is buzzing Monday Anaplan (NYSE: ) Announced Monday morning that Thoma Bravo had lowered its offer to acquire the company following a dispute between the parties about compliance with some terms of the merger deal.

Companies have reached an agreement on a lower offer for takeover of $9.6 Billion, which is $63.75 per share cash. This price is below $66.

Anaplan shares fell 3.76% to $63.33 Monday session.

Anaplan stated that it accepted the revised price in order to avoid lengthy litigation, increase closing certainty for stockholders, and keep the process moving along the exact same timeline as the original agreement between the parties.

“We fully support the amended agreement and look forward to partnering with Anaplan as it helps enterprises transform how they see, plan, and run their businesses by delivering cloud-native SaaS solutions at scale,” said Holden Spaht, a Managing Partner at Thoma Bravo.

Thoma Bravo, Anaplan, and Thoma Brave expect that the deal will close before June 30.

The news also affected Sailpoint Technologies (NYSE 🙂 (SAIL), causing a drop in stock by 3%. SailPoint was purchased by Thoma Bravo for $6.9 million in an all cash transaction.