Software investment firm Thoma Bravo announced it would acquire PROS recently and has now shared plans for the future of the airline revenue management specialist.
Post acquisition, which valued PROS at around $1.4 billion, the investment company said it intends to run PROS in combination with existing portfolio company Conga, which uses artificial intelligence (AI) to provide automation to help clients to review and negotiate contracts more quickly. It streamlines the creation, fulfillment and management of documents while ensuring compliance and aims to reduce risk, boost the customer experience and increase revenue opportunities.
Jeff Cotten, CEO of PROS, said the plan should enable PROS to improve its service for customers through accelerated growth and innovation while providing “deep domain expertise.”
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“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,” Cotten said. “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.”
“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,” said A.J. Rohde, senior partner of Thoma Bravo. “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.”
Holden Spaht, a managing partner at Thoma Bravo, said the combination of PROS with Conga Help customers with dynamic pricing and quoting for complex bundles—for example, an airline ticket being sold with ancillaries. The selling of bundles can prove challenging given data fragmentation and data accuracy issues which could reduce profitability.