Conga to acquire PROS B2B business in revenue optimization move

BROOMFIELD, Colo. - Conga, a provider of AI-powered solutions for configure, price, quote and contract management, announced Wednesday it has agreed to binding preliminary terms to acquire the B2B business of PROS Holdings, Inc. (NYSE:PRO) from investment funds affiliated with Thoma Bravo. PROS Holdings, with a market capitalization of $1.1 billion and annual revenue of $343 million, has shown steady growth with an 8% year-over-year revenue increase.

The acquisition is expected to close in Q1 2026, subject to customary conditions including regulatory approvals. The definitive agreement is anticipated to be finalized in connection with Thoma Bravo’s acquisition of PROS. According to InvestingPro data, PROS maintains a healthy financial position with a current ratio of 1.43 and strong revenue growth prospects, with analysts forecasting 9% growth in FY2025.

The combination aims to create an integrated platform that unifies pricing, quoting, and contracting functions across the revenue lifecycle. According to the press release, the merged entity will offer customers AI-driven insights and streamlined workflows across revenue processes. While PROS currently operates at a slight loss, InvestingPro analysis indicates expected profitability this year, with analysts projecting positive earnings. Get detailed insights and 8 additional ProTips about PROS’s financial outlook with an InvestingPro subscription.

"This isn’t just about combining two great companies—it’s about fundamentally changing how businesses optimize revenue and eliminate complexity," said Dave Osborne, CEO at Conga, who will continue to lead the combined business after the transaction closes.

Holden Spaht, Managing Partner at Thoma Bravo, noted that the move "will unlock a powerful product portfolio that expands on the offerings each company can deliver."

The companies stated that existing customers of both Conga and PROS B2B will continue to receive their current level of service during the integration process.

Conga currently serves over 10,000 customers with 6.4 million users worldwide, processing approximately 7 million contracts and 46 million quotes annually, according to information provided in the company’s statement. PROS brings additional strength with its robust 67% gross profit margin and improving operational metrics, as revealed by InvestingPro analysis in its comprehensive Pro Research Report, available along with detailed financial metrics for over 1,400 US stocks.

In other recent news, PROS Holdings Inc. reported a strong performance in the second quarter of 2025, exceeding earnings expectations with an earnings per share (EPS) of $0.13 compared to the forecasted $0.06, a significant 116.67% surprise. The company’s revenue for the quarter reached $88.7 million, slightly above the anticipated $87.67 million, marking a 1.17% surprise. Additionally, PROS Holdings announced a definitive agreement to be acquired by Thoma Bravo, a software investment firm, in an all-cash transaction valued at approximately $1.4 billion. Under this agreement, PROS shareholders will receive $23.25 per share in cash, which represents a premium over the company’s recent share prices. Following the acquisition, Thoma Bravo plans to operate PROS’ travel business as a standalone platform while integrating its B2B segment with Conga, another portfolio company. These developments highlight significant changes and achievements for PROS Holdings in recent times.

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