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HOUSTON/SAN FRANCISCO - Thoma Bravo announced today its strategic plans for PROS Holdings, Inc. (NYSE:PRO), a technology company with annual revenue of $343 million and a market capitalization of $1.1 billion, following the completion of its planned acquisition, which is expected to close in Q4 2025. According to InvestingPro data, PROS maintains a healthy gross profit margin of 67% and has demonstrated revenue growth of 8% over the last twelve months.
The software investment firm intends to operate PROS’ travel business as a standalone platform investment while combining the company’s B2B segment with Conga, an existing Thoma Bravo portfolio company specializing in configure, price, quote (CPQ) and contract lifecycle management solutions.
"This strategic plan will enable PROS to better serve customers through deep domain expertise and accelerate growth with focused innovation across both the B2B and travel sectors," said Jeff Cotten, PROS CEO, in a press release statement.
The acquisition, announced on September 22, will see PROS shareholders receive $23.25 per share in cash, representing a 41.7% premium over the company’s closing share price on September 19, 2025. Based on InvestingPro analysis, this offer price appears to be above the stock’s Fair Value, with the company showing strong returns of over 27% in the past year. InvestingPro Tips indicate the stock is currently in overbought territory, with additional insights available to subscribers.
A.J. Rohde, Senior Partner at Thoma Bravo, noted that PROS is "well-positioned to lead" in the airline and travel industry, where there is "increasing pressure to streamline pricing and selling systems."
For the B2B segment, the combination with Conga aims to create a more comprehensive solution portfolio. Holden Spaht, Managing Partner at Thoma Bravo, explained the merger addresses "the increasing need for enterprises to dynamically price and quote complex SKU bundles in the age of AI."
Thoma Bravo, which manages approximately $181 billion in assets as of June 30, 2025, specializes in software and technology investments. PROS Holdings provides AI-powered SaaS pricing and selling solutions, while Conga focuses on revenue lifecycle management.
The transaction remains subject to PROS stockholder approval and regulatory clearances. While PROS is not currently profitable, InvestingPro analysts expect positive earnings this year, with an EPS forecast of $0.67. Discover comprehensive analysis and 7 additional ProTips for PROS Holdings in the exclusive Pro Research Report, part of InvestingPro’s coverage of over 1,400 US stocks.
In other recent news, PROS Holdings Inc. announced it will be acquired by Thoma Bravo, a software investment firm, in a deal valued at $1.4 billion. Under the agreement, PROS shareholders are set to receive $23.25 per share in cash, which marks a significant premium over the company’s recent share prices. This acquisition reflects a 41.7% premium over PROS’ closing share price on September 19, 2025, and a 53.2% premium to its 30-day volume weighted average share price. In addition to the acquisition news, PROS Holdings reported strong earnings for the second quarter of 2025, exceeding analyst expectations. The company posted an earnings per share (EPS) of $0.13, surpassing the forecasted $0.06, representing a 116.67% surprise. Revenue for the quarter reached $88.7 million, slightly above the anticipated $87.67 million. These developments highlight a period of significant activity for PROS Holdings, attracting attention from investors and analysts alike.
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