Thoma Bravo to split PROS into two businesses after acquisition

Thoma Bravo announced plans to divide PROS Holdings Inc. (NYSE: PRO) into two separate business units following completion of its acquisition, expected to close in the fourth quarter of 2025.

The software investment firm will operate PROS' travel segment as a standalone platform investment, while combining PROS' B2B business with Thoma Bravo portfolio company Conga, which specializes in configure, price, quote and contract lifecycle management solutions.

"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. The firm plans to leverage its operational experience to enhance PROS' AI-powered pricing solutions for airlines and travel companies.

PROS CEO Jeff Cotten stated the strategic plan will enable better customer service through focused domain expertise. "Combining PROS' B2B business and Conga will unlock a broader, more powerful solution portfolio," Cotten said.

Under the acquisition terms announced September 22, 2025, PROS shareholders will receive $23.25 per share in cash, representing a 41.7% premium over the closing price on September 19, 2025, the last trading day before the transaction announcement.

Thoma Bravo manages approximately $181 billion in assets as of June 30, 2025, and has acquired or invested in approximately 555 companies over the past 20 years. PROS provides AI-powered SaaS pricing and selling solutions across various industries.

The transaction requires PROS stockholder approval and regulatory clearance. Information is based on a press release statement from the companies.

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