Software-focused private investment giant Thoma Bravo is at an advanced stage in negations to acquire Coupa Software Inc in a deal reportedly valued at $8 billion, having outbid rival tech-focused PE firm Vista Equity Partners, according to a report by Bloomberg.
Software-focused private investment giant Thoma Bravo is at an advanced stage in negations to acquire Coupa Software Inc in a deal reportedly worth $8 billion, having outbid rival tech-focused PE firm Vista Equity Partners, according to a report by Bloomberg.
The report cites unnamed sources as claiming that a deal for the San Mateo, California-based company, which provides business-spend management software, could be announced as early as this week, although talks are still ongoing and an agreement is not guaranteed
On Friday, Bloomberg reported that private credit funds were putting together debt packages to fund a buyout of Coupa with the firm’s shares subsequently falling 2.5% to close the day in New York at $62.09 giving the company a valuation of around $4.7 billion. Top shareholders though reportedly believe that Coupa, which went public in 2016 at $18 a share, should fetch at least $95 a share in a sale.
Despite this year’s more challenging fund-raising environment, Thoma Bravo has already completed several sizeable take-privates including Anaplan Inc, Sailpoint Inc, and Ping Identity.
