Thoma Bravo and PROS Holdings (PRO) announced the post-closing plans for 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, 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, or CPQ, contract lifecycle management, or CLM, and document automation, will combine with the B2B business of PROS. 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% over PROS’ closing share price on September 19 the last full trading day prior to the transaction announcement, and a 53.2% premium to PROS’ volume weighted average share price over the 30-day period ending the same date.
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