#Aptus conga software
Good liquidity also supports the rating, with large cash balances and Moody's expectation of modestly positive free cash flow in 2022.This document summarizes Moody's view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.The principal methodology used for this review was Software Industry published in August 2018. Conga should benefit from Salesforce's continued strong growth along with product expansion within existing customers. Conga maintains a strong historical relationship with Salesforce as a partner and reseller of key Conga products.
Conga's rating also benefits from a leading position as a provider of revenue operations software for enterprise customers and strong recognition in the Salesforce CRM ecosystem. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on for the most updated credit rating action information and rating history.Key rating considerations are summarized below.Apttus Corporation's (Conga) B3 corporate family rating reflects the company's high leverage and the size of the recent restructuring effort. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. The review did not involve a rating committee. The review was conducted through a portfolio review discussion held on 30 November 2021 in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Now, we'll do it together.Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Apttus Corporation (Conga)Global Credit Research - New York, Decem- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Apttus Corporation (Conga) and other ratings that are associated with the same analytical unit. Our mission remains resolute-to ensure customer success and unmatched world-class products and services. "Combined, we'll continue to deliver the same dedication to customer service, innovation and culture as we have in the past. "Apttus and Conga are people-first businesses with core values that fit together seamlessly, and both are fueled by an inherent drive to succeed," said Holland. The executive team will consist of individuals from both companies. Thoma Bravo remains the lead strategic investor and Insight Partners will retain a material ownership stake in the company and remain an active partner. Nikitas Koutoupes, managing director at Insight Partners, the majority stakeholder in Conga, will also join the board of managers. Schiltz, former CEO of Conga, will join the company's board of managers. The new company combines two SaaS leaders with roughly $400 million in GAAP revenue spread across a unique product portfolio that includes configure-price-quote (CPQ), contract lifecycle management (CLM), document generation, process automation, and e-signature.įrank Holland, previously the CEO of Apttus, will lead the go-forward company as CEO and Matthew J. The transaction creates a leader in mission-critical business process solutions, allowing both small and large enterprises to modernize revenue generation and manage key relationships operating under the Conga brand.
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