Private equity firm Thoma Bravo will buy Coupa Software Inc for $6.15 billion in cash, the business software maker said on Monday.
Thoma Bravo will pay $81 per share for Coupa, representing a premium of 30.5 per cent to the stock’s closing level on Friday. The price tag was 77.2 per cent higher than the closing price on Nov. 22, when investors’ interest in the company was first reported.
The all-cash deal, which has an enterprise value of $8 billion, is the latest in a series of tech acquisitions by Thoma Bravo, which has been snapping up public companies with lower valuations.
Over the last two years, the private equity firm has made a series of acquisitions in the cybersecurity space, including Ping Identity, Sophos, Proofpoint and Sailpoint Technologies.
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