Thoma Bravo Wins Battle for Coupa in $6.2 Billion Deal (1)

Thoma Bravo LLC agreed to acquire Coupa Software Inc. for an equity value of $6.2 billion after outbidding Vista Equity Partners.

The acquisition of Coupa caps off a year of sizable take-private deals for Thoma Bravo, including Anaplan Inc., Sailpoint Inc. and Ping Identity. It beat out Vista, another technology-focused private equity firm, which had also been in talks to buy Coupa.

Thoma Bravo will pay $81 a share in cash for San Mateo, California-based Coupa, a 77% premium to the closing price on Nov. 22, prior to a Bloomberg News report regarding the potential sale of the company, ...