Thoma Bravo Acquires PROS Holdings for $1.4B, Boosts AI in Commerce

Big MarTech move: Ziff Davis completed two acquisitions in Q3 2025 — Semantic Labs (MarTech / performance growth) and Etrality (connectivity solutions). Why the Semantic Labs deal is the marquee one for marketers: They specialize in performance-driven growth for SaaS, with a track record of generating over USD 250M in client revenue The acquisition strengthens Ziff Davis’ capabilities in ad ops, SaaS growth marketing, client ROI focus This is a sign of broader MtTech consolidation firms with domain expertise are being absorbed to strengthen portfolio offerings What do you think this signals for agency / tech acquisitions in the next 12 months? #MarTech #AcquisitionNews #ZiffDavis #SemanticLabs #GrowthMarketing #SaaS #MarketingStrategy Vivek Shah Steve Horowitz Nathaniel (Nate) Simmons

𝗖𝗼𝗽𝗶𝗹𝗼𝘁-𝗯𝗮𝗰𝗸𝗲𝗱 𝗣𝗿𝗶𝗰𝗲𝗦𝗵𝗮𝗽𝗲 𝗮𝗰𝗾𝘂𝗶𝗿𝗲𝘀 𝗣𝗿𝗶𝗰𝗲𝗶𝗻𝗱𝘅 𝘁𝗼 𝗮𝗰𝗰𝗲𝗹𝗲𝗿𝗮𝘁𝗲 𝗴𝗿𝗼𝘄𝘁𝗵   We’re pleased to announce that Copilot-backed PriceShape has acquired Stockholm-based competitor Priceindx - Intelligent pricing , strengthening its position as one of Europe’s leading pricing software providers. As our Managing Partner, John Messer, commented: “One of the great things about backing companies with the best product in the market is that there are multiple ways to scale. PriceShape is already growing strongly, and with the acquisition of Priceindx we’re now adding another growth lever – scaling through acquisition. This is not growth for growth’s sake, but a disciplined step that expands both PriceShape's market presence and its ability to serve large retailers. We are already actively looking for the next acquisition as part of our mission to support Frederik and Kasper in scaling PriceShape into the pan-European price optimisation software champion.” With consumer demand for the best online deals driving rapid growth, the acquisition propels PriceShape into a leading position in the Swedish market - one of Europe’s fastest-growing alongside Denmark. It also marks a key step in the company’s ambition to become Europe’s largest pricing software player in the coming years.     Congratulations to all involved!

Today, we’re announcing that Chief has acquired Plena (acquired, stay tuned) This isn’t just an acquisition. It’s a step toward the future of software. For decades, SaaS has been dominated by systems of record. Useful, but passive. They store data. They track activity. They leave the hard part, connecting the dots and taking action, to people. We built Chief to change that. To answer the question: what does it look like to operationalize AI? - A system of action, not just record. - An operating layer that turns context into clarity. - An engine that transforms insights into execution. With Chief, your data stops being a rear-view mirror and becomes a predictive engine—projecting outcomes and recommending the next move to change the future, not just observe it. Plena accelerates that vision. Their robotic process automation allows Chief to not only surface the “what” and the “why,” but to deliver the “now what” and take action automatically. Here’s what that looks like in practice: Chief surfaces an insight: “Bill is projected to miss his February quota by $42,367. His pipeline coverage just dropped below 4.2×, based on a 92-day sales cycle, 27.3% close rate, and $12,624 ACV.” Historically, Bill is left to figure it out—hunt for prospects, research accounts, and try to fill the gap. With Plena, Chief doesn’t just flag the risk. It automatically identifies best-fit opportunities (e.g., new decision-makers recently in role), fully enriches them, and even drafts tailored outreach so Bill can act immediately. Instead of staring at a shortfall, Bill is back on track. That’s the shift. From systems that record the past → to platforms that predict and shape the future. Together, we’re moving faster toward a world where: - AI anticipates performance risks before they happen. - Every insight is paired with a recommended next step. - Teams spend less time analyzing the past, and more time driving the future. That’s the future of performance. Plena helps us get there faster.

Bain Capital exits WinTriX’s China business in $4 billion deal The firm’s data center portfolio company, WinTrix DC Group, has agreed to sell 100% of its equity interest in its China operations in a landmark $4 billion transaction. The divested operation, formerly known as Chindata, has grown into a major hyperscale data center platform since 2018. It operates high-density IT clusters in the Greater Beijing Area, Yangtze River Delta, and Greater Bay Area. This deal marks the largest merger and acquisition in China’s data center industry and underscores Bain Capital’s track record of creating long-term value. Bain Capital is included on the Leaderboard (https://lnkd.in/emXrbT2a), which consists of top tier private equity and growth equity firms vetted and qualified by GrowthCap.

PROS Holdings, Inc., a provider of AI-powered SaaS pricing and selling solutions, has entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash transaction valuing the company at approximately $1.4 billion. Under the terms, PROS shareholders will receive $23.25 per share, representing a 41.7% premium to the September 19 closing price and a 53.2% premium to the 30-day average. 💥 Hear from leading private equity dealmakers shaping the tech sector at the Private Equity Boston Forum: https://hubs.li/Q03KJH1L0 Following completion, PROS will become a private company backed by Thoma Bravo’s operating expertise and capital, with plans to accelerate AI innovation, expand its platform, and strengthen go-to-market execution. Read more: https://hubs.li/Q03KJHVW0 #MarketsGroupNews #FinancialServices #PrivateEquity #TechInvesting

The “growth at all costs” playbook is officially dead. VC funding is down. CAC is rising. Buyers are more cautious than ever. Retention, not acquisition, is what drives valuations today. The question is: has your GTM strategy grown up with the market? In our latest blog, we unpack: - 3 signs your GTM isn’t ready for today’s economy - What capital-efficient GTM looks like in practice - Why RevOps is now the #1 lever for sustainable growth If your GTM still relies on volume over precision or headcount over leverage… you’re already falling behind. Read the full blog to audit your GTM maturity and see if your SaaS strategy is ready for its adulthood era. https://lnkd.in/ef6BtnDr

Hyperscayle LLC recently worked with a growing manufacturing company facing a common challenge: after several acquisitions, every branch ran sales differently and there was no CRM to track sales activity, pipeline or invoices. With accelerating growth on the horizon, leadership knew something had to change. We helped by: ✔️ Implementing HubSpot CRM + Marketing Hub ✔️ Designing a unified, repeatable sales process across all locations ✔️ Training teams to use the system independently ✔️ Aligning processes with leadership’s strategic growth plans The result? ✅ Full visibility into leads, pipeline, and invoice status across the organization ✅ A scalable sales process ready for future acquisitions ✅ RevOps foundation the team owns and trusts Scaling through acquisitions? Predictable growth starts with predictable processes and systems.

🚀 Thoma Bravo announces acquisition of PROS This $1.4B deal, expected to close in Q4 2025, could reshape the #CPQ, #Pricing & Quote-to-Cash landscape. With Conga already in its portfolio, Thoma Bravo is bringing together two major players in commercial transformation. ➡️ Upcoming synergies? PROS’ dynamic pricing integrated into Conga’s ecosystem? ➡️ Product portfolio restructuring for a unified platform? One to watch 👀 🔗 Read the official announcement: https://lnkd.in/esXAzT39 #CPQ #Pricing #QuoteToCash #SaaS #ThomaBravo #PROS #Conga

🚀 SaaS Trends, PE Deals & IPO Insights – H1 2025 Recap Powered by exclusive PitchBook data and expert analysis from Forvis Mazars Group we explore the key forces shaping the SaaS landscape: 🔹 Enterprise SaaS remains resilient – despite macroeconomic headwinds, demand holds strong. 🔹 Tech IPOs & liquidity – the market remains cautious, but signs of recovery are emerging. 🔹 AI is reshaping dealmaking – from sourcing to valuation, artificial intelligence is redefining private equity strategies. 📊 Dive into the full analysis for deeper insights into the evolving dynamics of SaaS and PE. https://lnkd.in/dUmm9j32 #SaaS #PrivateEquity #TechTrends #TMT Forvis Mazars in the UK Luke Middleton

💥Market Shakeup!!! BIG NEWS in the CX market yesterday, with Qualtrics announcing the acquisition of one of its main competitors PG Forsta, who only in May this year acquired InMoment! Mergers and acquisitions seem to be the flavour of the year, but what does that mean for organisations using these technologies? We’ll be exploring this in more detail in the coming weeks, but for now, here’s a quick recap: 🔹Qualtrics acquires PG Forsta in October 2025 for US$6.75 billion 🔹PG Forsta had acquired InMoment only in May 2025 🔹Qualtrics’ last major acquisition was back in 2021 when it acquired Clarabridge (text analytics vendor specialising in unstructured data analysis). Earlier this year we saw a large number of senior ex-Clarabridge leaders leaving Qualtrics to join Medallia. 🔹PG Forsta grew by acquisition itself, most notably when Confirmit merged with FocusVision in March 2021 to form a new company called Forsta. Subsequently, this newly formed company, Forsta, was acquired by Press Ganey in February 2022, which then led to the company being known as Press Ganey Forsta (PG Forsta). 🔹InMoment has also grown by acquisition, namely MaritzCX (research & surveys), Lexalytics (text analytics), and Review Tracker (online reviews) 🔹Qualtrics was purchased in 2018 by SAP, just be sold off again in 2023 to Silver Lake (investor group) Lots of activity - that’s for sure. But will it result in better technology for clients using VoC tech to empower their CX programs? 🔹There’s also the matter of Thoma Bravo acquiring Verint in August 2025. Verint has a VoC solution itself, but Thoma Bravo also owns Medallia - Qualtrics’ main rival. 🔹Thoma Bravo announced plans to merge Verint with Calabrio (also part of Thoma Bravo), but no mention has been made about Verint’s VoC solution and Medallia. The merger is still fairly young, and I’m sure we’ll hear more about it in the coming months. So, where does that leave organisations wishing to use VoC platforms? Putting my Analyst hat back on, I’d say we’re facing 2 major challenges in the ANZ region: 👉 Less VoC platform choice due to vendor consolidation and generally fewer enterprise players active in the APAC region (than globally)   👉 With the recent PG Forsta acquisition of InMoment still underway to integrate the tech and build new teams, the acquisition of PG Forsta by Qualtrics comes at an interesting time, and adds more complexity to the mix. A successful integration, tech consolidation, and most importantly new team and culture formation may take some time, given the vast array of tech and legacy vendor solutions involved. Stay tuned, we'll be looking into this in more detail over the coming weeks. ✨ If this is a topic you’re interested in, follow me here on LinkedIn for more insights, or get in touch if you’d like to discuss how we can help your team prepare to navigate these changes. Melanie Disse Consulting #CX #customerexperience #VoC #technology #AI #mergersandacquisitions