Wednesday 17th April, 2019
Coupa Software has announced 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 maximise the value of the core transactional spend captured in the Coupa BSM Platform.
“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 optimisation with compliance built-in throughout the process. Leveraging its Universal Contract Model™, Exari provides a comprehensive set of capabilities.
“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.”
The proposed acquisition is expected to close during Coupa’s fiscal second quarter, subject to the satisfaction of regulatory approvals.