Coupa Announces Intent to Acquire Contract Lifecycle Management Leader Exari
"Today, billions of dollars of buy-side transactional spend are processed against contracts stored in Coupa," said
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
"Contracts are the underpinning of every business, yet many struggle to get value from their negotiated contracts," said
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/.
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.
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
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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/coupa-announces-intent-to-acquire-contract-lifecycle-management-leader-exari-300832491.html
Dan Mahoney, 650-485-8506, firstname.lastname@example.org