Thoma Bravo, a Chicago, IL-based software investment company, acquired Coupa Software (NASDAQ: COUP), a San Mateo, CA-based Business Spend Management (BSM) company.
This is an all-cash transaction with an enterprise value of $8.0 billion.
The deal included a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Under the terms of the agreement, Coupa shareholders will receive $81.00 per share in cash, which represents a 77% premium to Coupa’s closing stock price on November 22, 2022, the last full trading day prior to media reports regarding a possible sale transaction involving the company.
Upon completion of the transaction, expected in the first half of 2023, subject to customary closing conditions, Coupa will become a privately held company.
Led by CEO Rob Bernshteyn, Coupa is a cloud-based Business Spend Management (BSM) platform that unifies processes across supply chain, procurement, and finance functions. The company empowers organizations around the world to maximize value and operationalize purpose through their business spend.
FinSMEs