SAN MATEO, Calif., April 16, 2019 /PRNewswire/ -- Coupa
Software (NASDAQ: COUP), a leader in business spend management
(BSM), announced today that it has entered into an agreement to
acquire Exari, a leading provider of contract lifecycle management
(CLM). Exari will extend Coupa's existing contract management
capabilities and reinforce Coupa's strategy of providing
market-leading power-user applications that maximize the value of
the core transactional spend captured in the Coupa BSM
Platform.
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"Today, billions of dollars of buy-side transactional spend are
processed against contracts stored in Coupa," said Rob Bernshteyn, chairman and chief executive
officer at Coupa. "By unifying Exari's advanced CLM
capabilities with this transactional spend, we will enable
companies to further decrease maverick spend, drive more savings,
reduce risk, and spend smarter. This acquisition will further
cement our leadership position in business spend management and our
commitment to deliver measurable business value."
Exari enables businesses to manage the entire contract
lifecycle: from contract request, creation, and approval to
negotiation, signature capture, and optimization with compliance
built-in throughout the process. Leveraging its Universal Contract
Model™, Exari provides a comprehensive set of
capabilities, including:
- Contract Creation: Any employee can easily create
compliant contracts with guided workflows and reusable
libraries.
- Contract Discovery: Automatically turn text into data
with AI-based data extraction and analysis that enables compliance
matching with remarkable speed and certainty.
- Contract Collaboration: Easily collaborate across
the contract lifecycle, from contract authoring and clause
management to advanced negotiations, to create and execute
contracts faster.
Once the transaction is closed, Exari will be unified with the
Coupa contract repository. This synergistic offering will enable
companies to easily create and manage compliant contracts, and
operationalize these contracts against spend transactions to turn
negotiations into realized savings.
"Understanding contract exposure and opportunities is
increasingly a board issue as companies struggle to effectively
manage compliance and business risks," said Bill Hewitt, chief executive officer at
Exari. "As part of Coupa, we will be able to provide companies
around the globe with a world-class CLM solution as an integral
part of their overall business spend management strategy."
"Contracts are the underpinning of every business, yet many
struggle to get value from their negotiated contracts," said
Mickey North Rizza, program
vice president, Enterprise Applications and Digital Commerce at
IDC. "Bringing Exari's robust CLM capabilities together with
the Coupa BSM Platform will create an unparalleled offering that
deeply embeds contracts within a company's core transactional
processes to ensure negotiated savings and terms are applied at the
moment spend is happening. This new offering, once integrated, will
deliver differentiated value that is highly sought after. Evidenced
by what we've seen with Coupa's prior acquisitions, I expect Coupa
to unify Exari with its platform quickly and continue to deliver
against its vision of creating a comprehensive, user-centric
platform for business spend management."
Exari is recognized as a Leader in The Forrester Wave™: Contract
Lifecycle Management For All Contracts, Q1 2019 Report. The report
states that "Exari has become a leader in AI-enabled importing and
disaggregating contracts into constituent parts, using a contract
data model that allows deeper analytics of a company's overall
contract portfolio."
The proposed acquisition is expected to close during Coupa's
fiscal second quarter, subject to the satisfaction of regulatory
approvals and other customary closing conditions.
To learn more about the Coupa BSM Platform, which empowers the
world's most successful organizations with the visibility and
control they need to manage all their spend in one place,
visit https://www.coupa.com/.
About Coupa
Coupa Software is the leading provider of
BSM solutions. We offer a comprehensive, cloud-based BSM platform
that has connected hundreds of organizations with more than four
million suppliers globally. Our platform provides greater
visibility into and control over how companies spend money. Using
our platform, businesses are able to achieve real, measurable value
and savings that drive their profitability. Learn more at
www.coupa.com. Read more on the Coupa Blog or follow @Coupa on
Twitter.
About Exari
Exari delivers a comprehensive Enterprise
Contract Lifecycle Management platform, used every day by
market-leading companies to understand all aspects of their
contract ecosystem worldwide. With Exari, customers can reduce
contract risk and improve operating efficiency with 100% Contract
Certainty™. Learn more at www.Exari.com.
Forward-Looking Statements
This release includes
forward-looking statements. All statements other than statements of
historical facts, including our intention to acquire Exari,
expectations regarding the timing of when the acquisition will be
completed, the proposed benefits of the acquisition to us, our
customers and our market position, and statements regarding the
capabilities of Coupa and Exari following the acquisition, are
forward-looking statements. These forward-looking statements are
based on Coupa's current expectations and projections about future
events and trends that Coupa believes may affect its financial
condition, results of operations, strategy, short- and long-term
business operations and objectives, and financial needs.
These forward-looking statements are subject to a number of
risks, uncertainties and assumptions that may cause actual results
to differ materially, including the risk of failing to satisfy
closing conditions to the transaction; the risk that the
transaction will not close or that closing will be delayed; the
risk that the companies' respective businesses will suffer due to
uncertainty related to the transaction; difficulties encountered in
integrating merged businesses, including employee, customer,
supplier and product difficulties; costs related to the
transaction; general market and business conditions; unanticipated
impact of accounting for the transaction; and difficulties with the
realization of the benefits of the acquisition. These and other
risks and uncertainties that could affect Coupa's future results
are included under the captions "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations," in Coupa's annual report on Form 10-K filed with the
SEC on March 27, 2019, which is
available at investors.coupa.com and on the SEC's website at
www.sec.gov. Further information on potential risks that could
affect actual results will be included in other filings Coupa makes
with the SEC from time to time.
The forward-looking statements in this release reflect Coupa's
expectations as of the date hereof. Coupa undertakes no obligation
to update publicly any forward-looking statements for any reason
after the date of this release to conform these statements to
actual results or to changes in our expectations.
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SOURCE Coupa Software