- Thoma Bravo has acquired enterprise spend administration software program firm Coupa for $8 billion.
- The deal is predicted to shut within the first half of 2023.
- The acquisition follows rumors that Vista Fairness Companions had deliberate to accumulate Coupa earlier this 12 months.
Non-public fairness agency Thoma Bravo introduced this week it’s scooping up enterprise spend administration software program firm Coupa for a complete of $8 billion. The all-cash transaction will make Coupa a privately held firm and is predicted to shut within the first half of subsequent 12 months.
Coupa was based in 2006 to supply companies spend administration options that assist them view and management their oblique spending. A few of the firm’s enterprise spend administration instruments embrace e-invoicing, journey and expense administration, spend evaluation, treasury administration, and extra. Coupa went public in 2016 and has a present market capitalization of $5.98 billion.
“For greater than a decade, we’ve been constructing an unimaginable Enterprise Spend Administration Group and have proudly cemented our place because the market-leading platform in our class. We’re wanting ahead to partnering with Thoma Bravo and accelerating our imaginative and prescient to digitally rework the Workplace of the CFO,” stated Coupa Chairman and CEO Rob Bernshteyn. “Whereas our possession could change, our values don’t. Each one in all us at Coupa will proceed to place our clients on the middle of every part we do and assist them maximize the worth of each greenback they spend.”
Right this moment’s report follows final month’s rumors that Texas-based non-public fairness agency Vista Fairness Companions deliberate to buy Coupa. Vista Fairness Companions just isn’t solely a widely known investor within the fintech house, it has additionally made a handful of enormous acquisitions within the fintech house prior to now few years, having acquired tax compliance agency Avalara earlier this 12 months and cloud id options supplier Ping Id in 2016.
Curiously sufficient, Thoma Bravo acquired Ping Id earlier this 12 months for $2.8 billion after Vista Fairness Companions exited its funding within the firm. Thoma Bravo takes a buy-and-build strategy through which it acquires related corporations and consolidates them to create synergies and develop corporations with higher scale, scope, and broader service choices. Amongst Thoma Bravo’s different investments within the fintech house are Bottomline Applied sciences, Digital Perception, SailPoint, Ellie Mae, and Kofax.
Concerning the corporate’s Coupa buy, Thoma Bravo Managing Companion Holden Spaht stated, “Coupa has created and led the big and rising Enterprise Spend Administration class. We’ve adopted the corporate’s success for a few years and have been impressed by its constant monitor document of delivering excessive ranges of worth for its world buyer base. We stay up for partnering with Rob and the remainder of the administration crew to maintain investing within the firm’s product technique whereas driving development each organically and thru M&A.”
Picture by Matthias Groeneveld
