- Coupa Software ( NASDAQ: COUP ) jumped 27% after private equity firm Thoma Bravo agreed to buy the company for $6.2 billion.
- Thoma Bravo will pay $81 a share price for Coupa Software ( COUP ), representing a 77% premium to where the stock traded before news of a potential buyout offer. The transaction includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority. The deal is expected to close in the first half of next year.
- The deal comes after Bloomberg reported on Nov. 23 that Vista Equity was said to be exploring a possible purchase and had held talks with the company.
- Thoma Bravo announced Wednesday that it raised more than $32.4 billion for three new buyout funds . The PE firm has been very busy with tech deals this year especially cybersecurity firms, picking up SailPoint Technologies for $6.9 billion in April, Ping Identity for $2.8 billion in August and it agreed to buy ForgeRock ( FORG ) for $2.3 billion in October.
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Why did Coupa stock go up today? Thoma Bravo agrees to buy for $6.2B