M&A May 7, 2020 10:49:46 pm

Apttus to acquire Broomfield-based Conga for reported $715M

The foyer of Conga Inc.’s headquarters in Broomfield. The 88,000-square-foot building has space to house up to around 600 employees. Dan Mika/ For BizWest

By Dan Mika

BROOMFIELD — Apttus Inc. has announced its intention to acquire Broomfield software company Conga to stake a larger claim with sales automation customers, particularly within Salesforce Inc. (NYSE: CRM).

In a statement, Apttus, which is backed by private equity giant Thoma Bravo, would create a $400 million-revenue company. The two companies did not disclose the price of the deal, but Bloomberg cited an anonymous source saying the deal is worth $715 million.

The combined company will run under the Conga name, with Apttus CEO Frank Holland taking over the top job and Conga CEO joining the combined firm’s board.

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Conga did not immediately respond to a request for comment Thursday.

San Mateo, California-based Apttus develops software to automate pricing for quote offers and other business proposals. Conga, the trade name for AppExtremes Inc., develops document management tools for customers of Salesforce Inc. (NYSE: CRM).

Last October, Chief Financial Officer Bob Pinkerton told BizWest the company was on pace to make more than $110 million in revenue in 2019 and openly said the firm was considering an initial public offering.

Conga finished moving into an 88,000-square-foot building in Broomfield’s Via Varra section last fall. At the time, it employed about 650 people, with 300 based in that office, and planned to hire an additional 300 over the next two to five years.