Welcome to our dedicated page for Coupa Software news (Ticker: COUP), a resource for investors and traders seeking the latest updates and insights on Coupa Software stock.
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Coupa and Goldman Sachs Transaction Banking (TxB) have announced a collaboration aimed at simplifying business payment processes across domestic and cross-border transactions. This joint initiative introduces a comprehensive payments solution that allows customers to execute payments in 124 currencies across 167 countries. Key features include fast integration through API-led technology, providing real-time data transparency, and enhanced cross-border payments capabilities with SWIFT GPI for tracking. The partnership seeks to modernize payment processes, enhance visibility for businesses, and ultimately optimize operational costs.
Coupa Software has completed its acquisition by Thoma Bravo for around $8.0 billion in an all-cash deal. Each Coupa stockholder will receive $81.00 per share. The acquisition was approved on February 23, 2023, and Coupa's stock will be delisted from Nasdaq. Thoma Bravo aims to leverage its expertise to propel Coupa’s growth and innovation in the Business Spend Management (BSM) sector. The acquisition also includes a significant investment from the Abu Dhabi Investment Authority. The integration process is underway, pending review from South African competition authorities.
On February 14, 2023, Coupa Software (NASDAQ: COUP) released its first Strategic CFO survey, revealing that economic uncertainty is prompting CFOs to make trade-offs between cost-cutting and profit-building strategies. Key findings include that 91% of CFOs are focused on hitting sales forecasts in the next 6-12 months, while 42% are concerned about declining profitability. A notable 86% state layoffs are a last resort, with many turning to alternative cost-cutting measures, such as raising prices and renegotiating supplier contracts. Additionally, 46% of CFOs lack visibility into their spend data, complicating informed decision-making. Investing in automation is viewed as critical for navigating economic challenges.
