Exclusive: Revenue management software vendor Pros explores sale -sources
Summary
REUTERS/Brendan McDermid/File Photo Acquire Licensing Rights Sept 27 (Reuters) - Pros Holdings Inc (PRO.N), a U.S. provider of revenue management software to airlines and other industries, is exploring options that include a potential sale, according to people familiar with the matter. Pros, which has struggled to return to profitability, is being advised by investment bank Qatalyst Partners in its discussions with potential acquirers, the sources said. Pros shares jumped 13% on the news to $36.18 in early New York trading on Wednesday, giving the company a market value of $1.7 billion. Founded in 1985, the Houston-based company has posted annual losses since it started offering its software through cloud computing in 2015, spending more on product development, sales and other operations than it earns. The COVID-19 pandemic, which weighed heavily on Pros airline clients, compounded its woes, and the company is not projected by most Wall Street analysts to return to profitability for at least the next three years.
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