Private equity firm Thoma Bravo acquired Coupa Software for $8 billion, or $81 per share in cash, the company announced on Monday.
According to business spend management platform officials, the transaction made financial sense.
“This transaction is the result of a deliberate and thoughtful process that included engagement with both strategic and financial parties,” Coupa’s lead independent director, Roger Siboni, stated in a news release. “In the current macroeconomic environment, the board evaluated the transaction against the company’s standalone prospects and determined that the compelling and certain cash consideration in the transaction provides superior risk-adjusted value relative to the company’s standalone prospects.” The board unanimously believes that this transaction is the best way forward and in the best interests of our shareholders.”
Coupa’s new business clients in Europe, the Middle East, and Africa are down 17% yearly, while new North American midmarket business is flat. Coupa officials also anticipate revenue growth in fiscal year 2024 to be lower than current Wall Street forecasts.
Based in San Mateo, California cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval cheval chevalgültig The company was founded in 2006 and currently employs 3,076 people.
Coupa, which oversees approximately $2 trillion in global spending, will become a privately held company after the transaction is completed. The company’s common stock will no longer be listed on any public market.
The Coupa name and brand will continue to be used by the company.
Holden Spaht, a managing partner at Thoma Bravo, said, “Coupa has created and led the large and growing business spend management category.” “For many years, we have followed Coupa’s success and have been impressed by its consistent track record of delivering high levels of value to its global customer base.”
Chicago-based Thoma Bravo is a private equity investment firm specializing in software and technology-enabled services. The company manages more than $120 billion in assets.
