Apttus Corp. has been on a roll lately, launching a broader range of software applications that complement its core offerings in such areas as digital commerce, configure-price-quote and “quote-to-cash” applications.
Its Apttus Omni platform, released earlier this year, for example, combines digital commerce, quote-to-cash and contract lifecycle management and can operate on several cloud technology platforms, including Salesforce, Microsoft Azure and IBM Cloud. Quote-to-cash tools maintain records of the steps from when a customer requests a price quote to the final payment.
An overture from private equity investment firm Thoma Bravo LLC may provide Apttus more of what it needs to further develop its technology platform and grow its market reach. Thomas Bravo last week said it had agreed to acquire a majority interest in Apttus; it didn’t say what price it agreed to pay for Apttus.
Apttus is known for providing software that connects businesses’ customer relationship management applications and back-office enterprise resource planning systems for managing such operations as financial and inventory records. It still faces tough competition, however, from software providers like Salesforce.com Inc. and SAP SE, which have a stronger base in customer relationship management, marketing and customer service.
Apttus executives say they expect Thoma Bravo to help push it further ahead. “Our partnership with Thoma Bravo will allow Apttus to accelerate growth, scale to new heights and capitalize on an enormous market opportunity,” says Neehar Giri, Apttus co-founder, president and chief solutions architect.
“Apttus’s platform is the commercial backbone for many of the largest companies in the world, and we look forward to taking incremental strides in delivering the best possible customer experience,” says Holden Spaht, a managing partner at Thoma Bravo. David Murphy, operating partner of Thoma Bravo, will join the Apttus office of the CEO as executive chairman.
Thoma Bravo also backs a number internet and digital commerce technology operations, including the B2B healthcare industry portal Global Healthcare Exchange Inc., travel services marketplace TravelClick Inc. and Trader Corp., an operator of an automotive industry portal.
Apttus doesn’t publicly release the costs of deploying its software. It makes its technology available under a software-as-a-service, or SaaS model, with subscriptions based on the extent of features used in each of its software applications.
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