On February 28, 2023, Coupa Software Incorporated announced the completion of its acquisition by Thoma Bravo in an all-cash transaction valued at approximately $8.0 billion. The transaction includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The agreement to be acquired was previously announced on December 12, 2022 and approved by Coupa stockholders at Coupa's Special Meeting of Stockholders held on February 23, 2023.

Further, Coupa Software Incorporated stated that with the completion of the transaction, stockholders are entitled to receive $81.00 per share in cash for each share of Coupa common stock they owned. In addition, the company's added that common stock has ceased trading and will be delisted from Nasdaq.