Thoma Bravo, a Chicago, IL-based software program funding firm, acquired Coupa Software (NASDAQ: COUP), a San Mateo, CA-based Business Spend Management (BSM) firm.
This is an all-cash transaction with an enterprise worth of $8.0 billion.
The deal included a major minority funding from an entirely owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Under the phrases of the settlement, Coupa shareholders will obtain $81.00 per share in money, which represents a 77% premium to Coupa’s closing inventory worth on November 22, 2022, the final full buying and selling day previous to media stories relating to a potential sale transaction involving the corporate.
Upon completion of the transaction, anticipated within the first half of 2023, topic to customary closing situations, Coupa will grow to be a privately held firm.
Led by CEO Rob Bernshteyn, Coupa is a cloud-based Business Spend Management (BSM) platform that unifies processes throughout provide chain, procurement, and finance capabilities. The firm empowers organizations world wide to maximise worth and operationalize function by their enterprise spend.