(Reuters) – 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% to the stock’s closing level on Friday. The price tag was 77.2% 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.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Devika Syamnath)
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