Thoma Bravo announced the acquisition of Coupa. The software provider’s board accepted an $8 billion (€7.6 billion) takeover bid.

The acquisition hinges on regulatory approval. Thoma Bravo expects to complete the process in the first half of 2023. If everything goes according to plan, Coupa will be delisted from the stock exchange.

Coupa develops software solutions for procurement, supply chains and spend management. The company was founded in 2006 and went public in 2016. Coupa’s share price skyrocketed at the height of COVID-19, followed by a plummet over the past six months.

Takeover rumours have been circulating for a while. Earlier today, it became clear that Coupa was in advanced talks with Thoma Bravo. Bloomberg sources predicted that the deal would be announced before the end of the week. The confirmation came earlier than expected.

Vista Equity Partners

Thoma Bravo was not the only one interested. Vista Equity Partners reportedly sought to acquire Coupa as well, though the rumours were never confirmed. Thoma Bravo’s takeover bid exceeds the company’s market value by billions of euros.