Vista exploring deal to buy Coupa Software - Bloomberg News [Reuters]
Coupa Software Incorporated (COUP)
Last coupa software incorporated earnings: 3/16 04:05 pm
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Source: Reuters
Nov 23 (Reuters) - Private equity firm Vista Equity Partners is exploring an acquisition of Coupa Software Inc (COUP.O) , Bloomberg News reported on Wednesday, citing people familiar with the matter. Shares of the software firm, which had a market capitalization of nearly $3.5 billion as of Tuesday close, surged 27% to $58.15 following the report. Vista declined to comment, while Coupa did not immediately respond to a Reuters request for comment. Vista has held talks with Coupa, which is working with an adviser, according to the report, adding that private-credit lenders could provide financing for a potential deal. The development comes when private equity buyers have ramped up their take-private activities as valuations of public tech companies have dropped due to a broader equities selloff, triggered by high inflation and a tightening monetary policy. Reporting by Tiyashi Datta in Bengaluru; Editing by Sriraj Kalluvila
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