Apttus / Conga

active

Software — Thoma Bravo

Deal Terms

Entry Year2018

Entry EV$1.2B

Entry Multiple10x

Leverage5.5x

Debt Amount$0.66B

Risk Metrics

LTV (est.)55%

Debt / EV0.55x

Notes

Thoma Bravo merged Apttus with Conga to create configure-price-quote (CPQ) platform. Revenue operations software. Multiple tuck-in acquisitions loaded more debt. AI-driven contract management threatens CPQ category. Customers locked in by switching costs.

Sponsor

Thoma Bravo$166B AUM