Thoma Bravo has acquired enterprise spend administration software program firm Coupa for $8 billion.The deal is anticipated to shut within the first half of 2023.The acquisition follows rumors that Vista Fairness Companions had deliberate to amass Coupa earlier this yr.
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 anticipated to shut within the first half of subsequent yr.
Coupa was based in 2006 to supply companies spend administration options that assist them view and management their oblique spending. Among the firm’s enterprise spend administration instruments embody 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 unbelievable Enterprise Spend Administration Neighborhood and have proudly cemented our place because the market-leading platform in our class. We’re trying ahead to partnering with Thoma Bravo and accelerating our imaginative and prescient to digitally remodel the Workplace of the CFO,” mentioned 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 heart of all the pieces we do and assist them maximize the worth of each greenback they spend.”
In the present day’s report follows final month’s rumors that Texas-based non-public fairness agency Vista Fairness Companions deliberate to buy Coupa. Vista Fairness Companions shouldn’t be solely a well known investor within the fintech area, it has additionally made a handful of huge acquisitions within the fintech area prior to now few years, having acquired tax compliance agency Avalara earlier this yr and cloud id options supplier Ping Identification in 2016.
Apparently sufficient, Thoma Bravo acquired Ping Identification earlier this yr for $2.8 billion after Vista Fairness Companions exited its funding within the firm. Thoma Bravo takes a buy-and-build strategy by which it acquires related firms and consolidates them to create synergies and develop firms with better scale, scope, and broader service choices. Amongst Thoma Bravo’s different investments within the fintech area are Bottomline Applied sciences, Digital Perception, SailPoint, Ellie Mae, and Kofax.
Concerning the corporate’s Coupa buy, Thoma Bravo Managing Accomplice Holden Spaht mentioned, “Coupa has created and led the massive and rising Enterprise Spend Administration class. We’ve adopted the corporate’s success for a few years and have been impressed by its constant observe file of delivering excessive ranges of worth for its world buyer base. We sit up for partnering with Rob and the remainder of the administration workforce to maintain investing within the firm’s product technique whereas driving development each organically and thru M&A.”
Photograph by Matthias Groeneveld