Coupa Software Inc. shares jumped 21% in premarket trades Monday it agreed to be taken private by Thoma Bravo for $8 billion in cash after reports of a deal earlier. Thoma Bravo will pay $81 a share, a premium of 77% over Coupa’s closing stock price on Nov. 22, the last day prior to media reports about a potential deal for the San Mateo, Calif.-based business software company, which specializes in products for chief financial officers. “We’re looking forward to partnering with Thoma Bravo and accelerating our vision to digitally transform the Office of the CFO,” said Rob Bernshteyn, chairman and chief executive officer at Coupa. Coupa Software also reported a loss of Prior to Monday’s gains, shares of Coupa Software were down 60.7% in 2022, compared to a 29.7% drop by the Nasdaq .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.