Conga to Acquire PROS’s B2B Business: Deep Focus on Integrated AI
CPQ giant Conga has agreed binding preliminary terms to acquire the B2B business of PROS from investment funds affiliated with Thoma Bravo.
Conga and PROS – which both offer Configure Price Quote (CPQ) services – will form a new combined business that will work to deliver enhanced product capabilities “with minimal disruption” as integration progresses.
Software investment firm Thoma Bravo and AI-powered SaaS pricing and selling solutions company PROS had announced post-closing plans for PROS on October 1. That same day, Conga announced that it had agreed to binding preliminary terms to acquire the B2B business of PROS Holdings, in connection with the closing of Thoma Bravo’s acquisition of PROS.
Following the completion of Thoma Bravo’s planned acquisition of PROS, which was announced on September 22 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 will combine with the B2B business of PROS.
Conga expects that its acquisition of the B2B business will close in Q1 2026, with all timings subject to customary conditions, including receipt of regulatory approvals.
Let’s take a look at what exactly this means.
What Does the Conga-PROS Deal Mean?
Conga says that AI is redefining how businesses operate, but fragmented systems slow down commercial progress, and when pricing, quoting, and contracting are siloed, intelligent commerce becomes “nearly impossible”.
“This strategic combination will bring together two market leaders with complementary solutions to solve that challenge, enabling the first fully integrated, AI-powered platform that enables commercial excellence and is designed to help companies maximize revenue and customer lifetime value,” Conga said in a statement.
Conga says that customers of both companies will benefit from deeper AI-powered insights, streamlined workflows, and faster execution across the entire revenue lifecycle, while a unified, end-to-end platform makes sure businesses will be able to operate with speed, intelligence, and agility without compromising on capabilities like:
- Accelerated Revenue Processes: Configure complex products, optimize pricing, and streamline quoting, contracting, and post-quote processes.
- AI-Driven Insights: Utilize an ensemble of purpose-built algorithms and models, proven AI capabilities drive measurable results in price optimization, rebate management, intelligent CPQ, and contract lifecycle management.
- Post-Quote Execution: Integrated CLM, document automation, order management, and billing aim to eliminate friction and manual effort across the contract lifecycle.
- Modular & Open Architecture: Built for flexibility, the combined platform will be designed to scale with businesses while adapting to existing commercial processes and integrating into existing IT landscapes.
Dave Osborne, CEO at Conga, said: “Today marks a defining moment for B2B revenue optimization.
“For too long, companies have been forced to stitch together multiple point solutions across their revenue lifecycle, creating gaps, inefficiencies, and missed opportunities.
“This isn’t just about combining two great companies – it’s about fundamentally changing how businesses optimize revenue and eliminate complexity.
“Our customers will now have visibility and control over their entire revenue process, powered by AI that actually delivers measurable results.”
Osborne will serve as CEO of the combined Conga and PROS B2B business following the transaction close.
Holden Spaht, a Managing Partner at Thoma Bravo, said: “We have followed the PROS story for many years and are excited to combine PROS’ B2B business with Conga, an existing Thoma Bravo portfolio company.
“This move will unlock a powerful product portfolio that expands on the offerings each company can deliver. It will unify critical revenue functions across pricing, quoting and contracting with speed and intelligence at a time when protecting, managing and growing revenue has never been more critical.”
Final Thoughts
It makes sense for Conga to consolidate the similar capabilities of another offering into its own and, if well-executed, this could result in a powerful end-to-end solution.
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