Nov 23 (Reuters) – Non-public fairness agency Vista Fairness Companions is exploring an acquisition of Coupa Software program Inc (COUP.O), Bloomberg Information reported on Wednesday, citing individuals conversant in the matter.
Shares of the software program agency, which had a market capitalization of almost $3.5 billion as of Tuesday shut, surged 27% to $58.15 following the report.
Vista declined to remark, whereas Coupa didn’t instantly reply to a Reuters request for remark.
Vista has held talks with Coupa, which is working with an adviser, in keeping with the report, including that private-credit lenders may present financing for a possible deal.
The event comes when personal fairness consumers have ramped up their take-private actions as valuations of public tech corporations have dropped as a consequence of a broader equities selloff, triggered by excessive inflation and a tightening financial coverage.
Reporting by Tiyashi Datta in Bengaluru; Enhancing by Sriraj Kalluvila
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