Thoma Bravo, a software investment firm, has bought Coupa Software, a business spend management company, for $8 billion.
Coupa is a cloud-based business spend management service that aims to help organizations drive value through their business spend. At closing, Coupa will become a privately held company. Shareholders will receive $81 per share in cash. The transaction includes a minority investment from a subsidiary of Abu Dhabi Investment Authority.
“Our shared vision, combined with Thoma Bravo’s strategic and operational expertise, will enable Coupa to continue driving innovation, better serve its customers and accelerate important growth initiatives during this next chapter as a private company,” comments Brian Jaffee, a partner at Thoma Bravo.
Qatalyst Partners LP is serving as financial advisor to Coupa and Freshfields Bruckhaus Deringer LLP is serving as the company’s legal advisor. Goldman Sachs & Co. LLC and Piper Sandler acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Thoma Bravo.