PROS Holdings agreed to be acquired by private-equity firm Thoma Bravo in a deal that values the software company at about $1.4 billion.
PROS shares surged 40% on the news.
PROS on Monday said Thoma Bravo will pay $23.25 a share in cash for the Houston company, a nearly 42% premium to Friday's closing price of $16.41. Shares of PROS, which provides AI-powered software-as-a-service pricing and selling solutions, were up 40% Monday morning to $22.96
The deal is slated to close by the end of the year.
Software-focused investor Thoma Bravo, which had more than $180 billion in assets under management as of June 30, struck an $11.2 billion deal in August to buy human-resources software provider Dayforce.
Thoma Bravo earlier this year completed a fundraising topping $34.4 billion across three funds, including $24.3 billion for its main buyout fund.