December 07, 2022
Coupa Software program Inc. (NASDAQ: COUP) shareholder HMI Capital Administration LP has voiced considerations about current media reviews relating to a potential sale of the San Mateo, California-based firm. Coupa supplies enterprise spend administration software program, together with a contingent workforce vendor administration system.
Bloomberg on Nov. 23 reported that Vista Fairness Companions and Coupa have engaged in talks for Coupa to be acquired by Vista.
In a letter to Coupa’s board of administrators and CEO Rob Bernshteyn, HMI Companion RK Mahendran acknowledged that Coupa’s outlook for future progress and long-term worth creation is brilliant, and that promoting right now shouldn’t be proper to understand the long-term worth of the corporate.
“It’s our view that we converse for a lot of different shareholders once we say that we’d be happy to personal Coupa for the foreseeable future and to guess on the crew to proceed to construct momentum and execute its confirmed technique,” the letter states.
“As we have now shared with the board beforehand, from HMI’s perspective, any proposed transaction at a worth that fails to mirror Coupa’s true long-term worth and future progress potential could be a mistake,” Mahendran wrote. “Because of this we’d oppose any deal that undervalues the corporate.”
HMI is one among Coupa’s largest shareholders, holding roughly 4.8% of the corporate’s excellent shares. The complete letter is obtainable on-line.