HOUSTON & SAN FRANCISCO – Thoma Bravo, a leading software investment firm, and PROS Holdings, Inc. (“PROS”), a leading provider of AI-powered SaaS pricing and selling solutions, announced the post-closing plans for PROS. Following the completion of Thoma Bravo’s planned acquisition of PROS, which was announced on September 22, 2025 and is expected to close in Q4 2025, Thoma Bravo intends to run the travel business of PROS as a platform investment while existing portfolio company Conga, a leader for AI-powered innovation in configure, price, quote (CPQ), contract lifecycle management (CLM) and document automation, will combine with the B2B business of PROS.
“We are thrilled to be investing in PROS and excited by the opportunities ahead to grow the travel business,” said A.J. Rohde, a Senior Partner at Thoma Bravo. “In the large and hyper-competitive airline and travel industry, there is increasing pressure to streamline pricing and selling systems to help customers grow and increase revenue. Trusted by airlines and travel companies worldwide, PROS is well-positioned to lead in this growing market, and we are confident that our deep operational experience and software expertise will further PROS’ market-leading AI offering.”
“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 PROS CEO, Jeff Cotten. “Combining PROS’ B2B business and Conga will unlock a broader, more powerful solution portfolio that expands on the offerings the business can deliver to customers and drives greater value across every stage of their commercial operations. Meanwhile, with Thoma Bravo’s support, the travel business will be equipped to further invest in innovation, grow our airline and travel platform and fortify our position as a market leader in this dynamic sector.”
“This is an exciting new growth stage for PROS and continues to build on the trust that our customers have in PROS with greater agility and flexibility,” said Surain Adyanthaya, President of Global Industries at PROS. “With Thoma Bravo’s conviction in our travel business, we believe we are strongly positioned to help our customers grow and continue to improve our operational efficiency in an AI-led era,” said Ajay Damani, Executive Vice President of Engineering at PROS.
Commenting on Conga’s planned combination with PROS’ B2B business, Holden Spaht, a Managing Partner at Thoma Bravo, said: “We are excited to combine Conga, our revenue lifecycle management platform, with PROS’ AI-driven pricing optimization capabilities. The combination of these two market leaders addresses the increasing need for enterprises to dynamically price and quote complex SKU bundles in the age of AI.”
Under the terms of PROS’ agreement to be acquired by Thoma Bravo, at closing, PROS shareholders will receive $23.25 per share in cash, representing a premium of approximately 41.7 percent over PROS’ closing share price on September 19, 2025, the last full trading day prior to the transaction announcement, and a 53.2 percent premium to PROS’ volume weighted average share price over the 30-day period ending the same date.
Tagged with acquisition, PROS