SAN MATEO, Calif., May 7, 2019 /PRNewswire/ -- Coupa Software
(NASDAQ: COUP), a leader in business spend management (BSM),
announced today that it has completed the acquisition of Exari, a
leading provider of contract lifecycle management (CLM). The
acquisition extends the Coupa Contract Management solution with
advanced CLM capabilities, including functionality for contract
creation, collaboration, and discovery, enabling companies to
comprehensively manage the entire contract lifecycle and
operationalize their contracts against spend transactions.
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"Unifying Exari's advanced CLM capabilities with the more than
$1 trillion of rapidly growing
transactional spend in the Coupa BSM Platform will enable us to
deliver even more value to our customers across all aspects of
business spend management," said Rob
Bernshteyn, chairman and chief executive officer at
Coupa. "I am pleased to officially welcome the Exari team
to Coupa, where together we will empower companies around the globe
to be successful across their enterprise-wide contract management
initiatives."
The acquisition further solidifies Coupa's vision of enabling
businesses to manage all of their business spend comprehensively on
the Coupa BSM Platform. Exari's advanced CLM capabilities will be
unified with the Coupa BSM Platform so that businesses can manage
the entire contract lifecycle – from contract request, creation,
and approval to negotiation, signature capture, and optimization
with compliance built in throughout the process – across all
aspects of business spend.
"We are excited to join Coupa and make our advanced CLM solution
a core part of any organization's overall business spend management
strategy," said Bill Hewitt,
chief executive officer at Exari. "Our visions are aligned, and
we look forward to joining our new Coupa colleagues and their
vibrant company culture focused on measurable results for all
customers."
"Contracts are not just the heart of business-to-business
commerce, but also the brains; yet, most contracts are just
'dumb' documents. Making contracts intelligent requires much
more than a traditional contract management solution. Exari's
advanced capabilities deliver contract intelligence and a unique
knowledge model that translates legalese into the language of
business in terms of spending commitments, complex cost/service
elements, and business risks," said Pierre Mitchell, managing director at Spend
Matters and Azul Partners. "For this reason, Coupa's
acquisition of Exari is a master-stroke acquisition that gives
Coupa a powerful intelligent solution to help solve enterprise-wide
commercial business challenges rather than just contract document
management challenges."
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 a 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 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 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