Apttus and Conga Combine to Become Leader in Digitally Transforming Commercial Operations
The combination of industry pioneers to drive commercial excellence, automate core business processes and accelerate time to revenue
Apttus, the leader in quote-to-cash (QTC) solutions, and Conga, the leader in Digital Document Transformation announced the two companies are joining forces to create the leader in digital transformation for commercial operations. The transaction creates a leader in mission critical business process solutions, allowing both small and large enterprises to modernize revenue generation and manage key relationships. The go-forward company will operate under the Conga brand.
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The new company combines two SaaS leaders with roughly $400 million in GAAP revenue spread across a unique product portfolio that includes Configure-Price-Quote (CPQ), Contract Lifecycle Management (CLM), Document Generation, Process Automation and eSignature. Together, the new Conga is poised to provide the most complete offering in the market to digitally transform the foundational elements of business — documents like quotes, contracts and the processes that surround them — to achieve commercial excellence.
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Conga’s end-to-end solution will empower organizations to revolutionize business operations, streamline workflows and deliver documents more effectively in the changing digital economy. Conga will set the standard for how companies — including its now well over 10,000 enterprise and mid-market customers — will operate their business to be ready for the challenges of tomorrow.
Digital transformation paves the way for commercial excellence
At a time when digital transformation is more important than ever, many organizations struggle to effectively manage the foundational elements of business, resulting in customer experiences that are inefficient and disjointed. The new Conga’s comprehensive product set and expertise will help businesses drive revenue generation, manage key relationships and ensure faster, smarter sales cycles to create better, more efficient buying experiences that match the speed of their customers.
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Frank Holland, previously the Chief Executive Officer of Apttus, will lead the go-forward company as Chief Executive Officer and Matthew J. Schiltz, former Chief Executive Officer of Conga, will join the company’s Board of Managers. Nikitas Koutoupes, Managing Director at Insight Partners, the majority stakeholder in Conga, will also join the Board of Managers. Thoma Bravo remains the lead strategic investor and Insight Partners will retain a material ownership stake in the company and remain an active partner. The executive team will consist of individuals from both companies.
Deutsche Bank Securities Inc. served as the Direct Lending Financing Provider and exclusive M&A advisor and Kirkland & Ellis served as legal advisor for Apttus. Qatalyst Partners served as exclusive financial advisor and Willkie Farr & Gallagher as legal advisor to Conga.
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