Coupa Buys Aquiire, the Leader in Real-Time Supplier Catalog Search
October 15 2018 - 9:00AM
Acquisition enables the company to deliver a
complete shopping experience for businesses with real-time,
cached, and localized catalog searches
Coupa Software (NASDAQ: COUP), a leader in
business spend management (BSM), announced today that it has
acquired Aquiire, the leader in real-time supplier catalog search.
With 13 patents pending or issued, Aquiire extends Coupa’s
capability to deliver a comprehensive business-to-business (B2B)
shopping experience spanning real-time, cached, and localized
catalog search.
Today, without real-time search capability, employees often
waste precious time and productivity navigating catalogs across
many different supplier websites to find the products they need.
With Aquiire’s patented technology part of the Coupa BSM Platform,
employees can get all the information they need across suppliers in
real-time with one instant search. This instant search allows for
real-time competitive shopping, which can lower price as well as
improve overall employee productivity.
“Our goal is to transform how businesses manage spend. Our
innovations combined with Aquiire provides the flexibility of
real-time, cached, and localized search in the hands of every
employee so they can spend smarter,” said
Rob Bernshteyn, chief executive officer at Coupa.
“I’m excited to welcome the Aquiire team to Coupa. Together,
we will continue building the most comprehensive and user-centric
BSM platform in the world and deliver real value to businesses
everywhere.”
“Our technology truly delivers on the promise of real-time
universal shopping that delivers businesses value and savings,”
said Mike Palackdharry, president and CEO at
Aquiire. “We are thrilled to join Coupa and be another
integral part of their business spend management offering that is
used by leading organizations around the world.”
Aquiire is based in Cincinnati, Ohio and was backed by Vora
Ventures. It was recently named to the “50 to Watch 2018” list by
Spend Matters.
“Coupa is working to put
significant distance between itself and its rivals by
using more modern approaches to access B2B supplier
catalogs,” said Xavier Olivera, director of
procure-to-pay research at Spend Matters. “On the heels of
buying Simeno for cached catalog search, the acquisition of
Aquiire supports Coupa's strategy of delivering a
consumerized B2B shopping experience using a Google-like
catalog search, coupled with the compliance that
businesses need. Given past performance, we expect Coupa will
quickly embed Aquiire's patented, real-time search and
advanced price comparison, providing an industry-unique
shopping model and pricing intelligence.”
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, click
here.
About Coupa Software Coupa Software is the
cloud platform for business spend management (BSM). We deliver
“Value as a Service” by helping our customers maximize their spend
under management, achieve significant cost savings, and drive
profitability. Coupa provides a unified, cloud-based spend
management platform that connects hundreds of organizations
representing the Americas, EMEA, and APAC with millions of
suppliers globally. The Coupa platform provides greater
visibility into and control over how companies spend money.
Customers – small, medium, and large – use the Coupa platform to
bring billions of dollars in cumulative spend under management.
Learn more at www.coupa.com. Read more on the Coupa
Blog or follow @Coupa on Twitter.
Forward-Looking StatementsThis release includes
forward-looking statements. All statements other than statements of
historical facts, including the proposed benefits of the
acquisition and statements regarding the capabilities of Coupa and
Aquiire 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 with the integration
process or 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 quarterly report on Form 10-Q
filed with the SEC on September 6, 2018, 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.
Stefanie Gordish415-590-9722Stefanie.gordish@coupa.com
Coupa Software (NASDAQ:COUP)
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