Coupa Software

History

2022: Thoma Bravo acquires Coupa Software for $8 billion

On December 12, 2022, investment firm Thoma Bravo announced an agreement to acquire the firm Coupa Software, a developer of expense management software.

In accordance with the terms of the contract, Coupa shareholders will receive $81 per share in cash, which represents a 77% premium to the value of the company's securities at the close of trading on November 22, 2022 - the last full trading day before reports MEDIA of a possible sale. Thus, the total value of the transaction will be $8 billion. The amount indicated also includes a premium of approximately 64% to Coupa's weighted average share price for the 30 trading days ended November 22, 2022. The transfer of assets will be carried out entirely at the expense of cash.

Thomas Bravo bought Coupa Software software developer for $8 billion

The deal, which was unanimously approved by Coupa's board, is expected to close in the first half of 2023. This will require regulatory approvals. Upon completion of the merger, Coupa's common stock will no longer be listed on any public market.

Roger Siboni, Coupa's lead director, said the company took the current economic situation into account and decided the deal would have a positive impact on business performance. At the same time, customers can count on the same high level of service that was provided before the merger with Thoma Bravo. In general, as noted, Coupa's board of directors is unanimous in its opinion that this transaction is the best way to develop the company and is fully in the interests of shareholders. However, some investors may be unhappy with the sale due to the fact that the value of Coupa under the signed agreement was allegedly underestimated.^[1]

2020: Purchase of supply chain solutions developer Llamasoft

In early November 2020, Coupa Software, whose software is used by large corporations to manage expenses, announced the purchase of Llamasoft. The deal amounted to $1.5 billion. Read more here.

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