Thoma Bravo to buy Coupa Software in $8bn deal

Private equity firm Thoma Bravo has agreed to buy California-based Coupa Software in an $8bn cash deal.

Thoma Bravo will pay $81 per share, which is a premium of 77% to Coupa’s closing share price on 22 November, the last trading day before media reports about a possible deal emerged.

Coupa chairman and chief executive Rob Bernshteyn said: "For more than a decade, we've been building an incredible Business Spend Management Community and have proudly cemented our position as the market-leading platform in our category.

"We're looking forward to partnering with Thoma Bravo and accelerating our vision to digitally transform the Office of the CFO."

The deal, which has been unanimously recommended by the Coupa board of directors, is expected to close in the first half of next year.

Coupa is the cloud-based Business Spend Management (BSM) platform that unifies processes across supply chain, procurement, and finance functions.