Business software company Coupa Software is being purchased by Thoma Bravo for $8 billion.

Thoma Bravo recently received $32.5 billion in fundraising and is using the money to complete several deals relating to public tech companies. Thoma Bravo has stated that they are capitalizing on falling values for various tech companies.

Thoma Bravo has also been able to strike deals with Anaplan and SailPoint technologies earlier in the year with other recent purchases being Ping Identity and ForgeRock.

Thoma Bravo has agreed to pay $81 per share for Coupa Software which would be a 77% premium to their stock price before the deal was announced.

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‍Source: Financial Times