Private equity firm Thoma Bravo acquires quote-to-cash solution provider Apttus

Private equity investment firm Thoma Bravo has announced that it has acquired a majority interest in quote-to-cash solution provider Apttus. The transaction is expected to close in early October, subject to usual and customary closing conditions and regulatory approvals.

Previously available only as a native Salesforce application, Apttus’ Intelligent Cloud became available to Microsoft customers running Azure in 2016.

Apttus provides quote-to-cash, contract lifecycle management, and other middle office solutions. Its solutions automate, optimize, and apply artificial intelligence to key business processes, enabling enterprises to generate revenue and manage key commercial relationships, according to officials of the companies.

“Apttus’ innovation is directly responsible for the creation and advancement of the middle office, holistically addressing the space between CRM and ERP for hundreds of customers,” said Neehar Giri, Apttus co-founder, president and chief solutions architect, in a statement. “Our partnership with Thoma Bravo will allow Apttus to accelerate growth, scale to new heights, and capitalize on an enormous market opportunity.”

When the transaction closes, David Murphy, the former president and COO of Blue Coat Systems and a current Thoma Bravo operating partner, will join Apttus’ office of the CEO as executive chairman, officials stated.

The acquisition by a private equity firm was not the exit that leaders anticipated as recently as 2016. In an interview in 2016, Apttus CEO Kirk Krappe told TechCrunch he was confident that an exit was coming, either by IPO or a possibly a Salesforce acquisition.

Thoma Bravo is a longtime investor ...