Thoma Bravo has acquired Coupa, taking the software company private in a $8 billion deal. The transaction includes an investment from Abu Dhabi Investment Authority (ADIA).

The transaction, which was approved unanimously by the Coupa Board of Directors, is expected to close in the first half of 2023, subject to customary closing conditions, including approval by Coupa shareholders and the receipt of required regulatory approvals. The transaction is not subject to a financing condition.

Upon completion of the transaction, Coupa’s common stock will no longer be listed on any public market. The company will continue to operate under the Coupa name and brand.

Qatalyst Partners is serving as financial advisor to Coupa and Freshfields Bruckhaus Deringer is serving as the company’s legal advisor.

Goldman Sachs and Piper Sandler acted as financial advisors and Kirkland & Ellis acted as legal advisor to Thoma Bravo.

[Image courtesy: Coupa]