PLAN - Anaplan likely the first of many deals in the software space venture capitalist says

Anaplan's (NYSE:PLAN) $10.7B sale to Thoma Bravo is likely the first of several deals that may come in the software space, according to GGV Capital's Glenn Solomon. "I actually think this is a harbinger of things to come," Solomon said in an interview on CNBC earlier. "I've chatted with some of my friends in the M&A space who tell me that this is the first of many deals that are coming. There's a lot of others that are being discussed at the moment." Solomon highlighted that Thoma Bravo is paying 14x next-twelve-months revenue for Anaplan (PLAN), which is actually a "huge premium" to where the current cloud index trades, nearly double the average SAAS multiple of 7.8x. "You have both private equity and strategic looking at these assets and licking their chops," Solomon said. Mizuho analyst Siti Panigrahi earlier noted that the Anaplan deal could kick off several other acquisitions in the

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Anaplan likely the first of many deals in the software space, venture capitalist says