Breaking News
More () »

Austin software maker Planview sold in $1.6 B deal, report says

Planview's headquarters is in Austin, located in the Research Park Plaza located off of Highway 183.

AUSTIN, Texas — Editor's note: The video published above is a KVUE Boomtown 2040 report about construction and job growth in Austin.

According to a report from KVUE's media partner The Austin American-Statesman, the Austin-based software maker, Planview, is being sold to two private equity firms in a $1.6 billion deal. 

The report states that private equity firms TPG Capital and TA Associates have partnered to buy Planview. 

Planview has more than 700 employees worldwide and houses 275 employees in Austin, the Statesman reported. Its headquarters is in Austin, located in the Research Park Plaza located off of Highway 183.

“We’ve spent more than three decades delivering innovation, driving the market forward, and reinventing ourselves. I truly believe that the best is yet to come for our customers and for Planview,” Greg Gilmore, CEO of Planview, said in a written statement. “We’re grateful for Thoma Bravo’s partnership over the last four years, and look forward to this next chapter as we accelerate our vision and continue to be a journey partner for our customers as they transform strategy to delivery.”

Nehal Raj, partner at TPG Capital, said in a press release that the nature of work has changed in the past several years, and technology is enabling new ways for employees to be productive, a pattern only accelerated by the pandemic.

"As more of our work lives transition to digital, organizations will require tools that provide executives visibility and connectivity across the entire enterprise," Raj said. "With Planview, we see an opportunity to partner with an innovative leader at the forefront of this new way of working. We look forward to supporting the company in its next chapter of growth.”

WATCH: Construction, job growth continues in Austin amid COVID-19 | KVUE


SXSW celebrates 2021 Austin festival with special $149 passes

President George HW Bush's former service dog Sully honored with hometown statue

Masks required in Austin through the end of 2020, health officials say