Acquisition enables the company to deliver a complete shopping experience for businesses with real-time, cached, and localized catalog searches
SAN MATEO, Calif., Oct. 15, 2018 (GLOBE NEWSWIRE) -- 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.
This 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.