Private equity firm Thoma Bravo has agreed to purchase a majority stake in Planview, a software manufacturer for the work and resource management industries, from Insight Venture Partners. While financial terms of the deal were not disclosed, Insight Venture Partners will retain its original 2014 investment in the target. Planview is a developer of tools for strategic planning, portfolio and resource management, new product development, work collaboration, and enterprise architecture. The target designs a suite of four software products that include: Planview Enterprise, a portfolio and resource management tool; Innotas, a project and portfolio management tool for maturing organizations; Troux, an enterprise capability and technology management tool; and Projectplace, a collaborative workspace tool for management teams of all sizes. Planview employs nearly 700 workers and serves more than 3,000 clients from its headquarters in Austin, Texas. San Francisco-based Thoma Bravo is betting big on software services, as big companies are looking to migrate to the cloud and tech companies have steadily grown attractive to dealmakers. The San Francisco-based private equity firm has made more than 140 acquisitions in the software and technology space since 2003. Thoma Bravo recently closed a new tech fund at nearly $7.6 billion to focus on new industry opportunities. The firm recently bought parking management provider T2 Systems using capital from the $1 billion Discover Fund that closed in early 2016; acquired secure access software provider Bomgarpurchased Elemica, a software maker for supply chain operating networks; and completed its acquisition of Qlik Technologies Inc. Thoma Bravo won Mergers & Acquisitions’ 2014 M&A Mid-Market Award for Deal of the Year for the firm's purchase of TravelClick. Founded in 1995, Insight Venture Partners is a private equity and venture capital firm headquartered in New York. The firm has raised more than $13 billion in capital and invested in more than 250 companies across the software, mobile and internet industry sectors. Insight Venture Partners’ has invested in a variety of companies including: Anaqua Inc., 1stdibs, Flipboard, Indiegogo, Karmaloop, and Zumba Fitness. The deal for Planview is expected to close in the first quarter of 2017. William Blair is serving as financial adviser to Insight Venture Partners and Planview.