Thoma Bravo's $6.15B purchase of Coupa Software confirmed
Coupa Software Inc. announced on Monday the takeover by Thoma Bravo LP in a cash deal worth $6.15 billion or $81 per share. The private equity firm was already tipped to take over the software company earlier on Monday, which saw Coupa's stock soar nearly 27% in the United States premarket trading.
Commenting on the deal, Thoma Bravo said that it "couldn't be more excited to partner with the talented Coupa team to keep building on the incredible franchise they've created in the Business Spend Management space."
The deal will mean that Coupa Software becomes a privately held enterprise, with the contract expected to be finalized in the first half of 2023. Thoma Bravo LP acquired a number of firms in the last couple of years such as the ForgeRock and SailPoint.