Thoma Bravo Completes Majority Investment in Apttus*

*Apttus and Conga, two pioneers in the commercial operations space, have joined forces as the all-new Conga. 

SAN FRANCISCO and SAN MATEO, CA – October 10, 2018

Thoma Bravo, a leading private equity investment firm, today announced that it has become the majority investor in Apttus, the global Middle Office leader. Financial details of the transaction were not disclosed.

Apttus is the pioneer of intelligent Middle Office software solutions. Its solutions have been embraced by hundreds of mid-sized to Global 2000 companies. Its unique platform, The Intelligent Middle Office, is the first and only technology to automate, optimize and apply artificial intelligence to the most important business processes for any enterprise – revenue generation and management of commercial relationships. Apttus’ Quote-to-Cash, Contract Lifecycle Management and Digital Commerce solutions are the most advanced in the industry. Apttus enables enterprises to transition their business models to today’s service-based economy in which customers of those businesses demand a better buying experience.

“Our customers have told us countless times that they view Apttus as the commercial backbone of the services economy,” said Neehar Giri, Co-founder, President and Chief Solutions Architect for Apttus. “They rely on us to help maximize their revenue and strategic business outcomes in an era dominated by on-demand, subscription-based buying expectations. Partnering with Thoma Bravo gives Apttus a tremendous advantage. Their expertise and experience investing in high-quality and high-growth enterprise software companies will help Apttus continue innovating for customers, leading the market and growing our business at scale.”

As part of Thoma Bravo’s majority investment in Apttus, David Murphy, the former President and COO of Blue Coat Systems and a current Thoma Bravo Operating Partner, joins Apttus’ Office of the CEO as Apttus’ Executive Chairman.

“Apttus is a trailblazer in the Middle Office space, revolutionizing how some of the largest companies in the world improve corporate efficiencies and manage revenue and key commercial relationships,” said David Murphy, Executive Chairman at Apttus. “The Middle Office market is large and highly dynamic, and we look forward to guiding and supporting the company’s next stage of growth.”

“Apttus’ technology is not only highly mission-critical for its customers, but is also on the cutting edge in areas like machine learning, natural language processing and artificial intelligence,” said Holden Spaht, a Managing Partner at Thoma Bravo. “We think these technologies are the future of business for enterprise organizations, and we are excited to support our customers in furthering these initiatives.”

Goldman Sachs & Co. LLC served as the lead financial advisor and Cooley LLP served as legal advisor for Apttus.  Kirkland and Ellis LLP served as legal advisor to Thoma Bravo and Deutsche Bank Credit Solutions & Direct Lending provided financing for the transaction.