Thoma Bravo to acquire Coupa Software for $8bn
Software investment firm Thoma Bravo is set to acquire US-based business spend management platform Coupa Software for $8 billion.
Thoma Bravo to buy Coupa Software for $8bn
Upon completion of the all-cash transaction, Coupa will become a privately held company, with current shareholders set to receive $81 per share. The transaction also includes a “significant” minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
Coupa says the deal was approved “unanimously” by its board of directors and is expected to be completed in the first half of 2023 subject to closing conditions and shareholder and regulatory approvals.
“The board evaluated the transaction against the company’s standalone prospects in the current macroeconomic climate and determined that the compelling and certain cash consideration in the transaction provides superior risk-adjusted value relative to the company’s standalone prospects,” says Roger Siboni, Coupa’s lead independent director.
Holden Spaht, managing partner at Thoma Bravo, says Coupa has helped create and lead the “large and growing” business spend management category.
Spaht adds that Thoma Bravo will look to continue investing in Coupa’s product strategy and drive growth “organically and through M&A”.
Founded in 2006 with offices in the US, Brazil, India and Ireland, Coupa is a cloud-based platform that unifies processes across supply chain, procurement and finance functions, allowing businesses to have visibility and control over their spending.
