Shares of Coupa Software Inc. (COUP) fell 1.9% in morning trading Monday, after the enterprise software company announced a deal to buy AI-powered supply chain management company LLamasoft for $1.5 billion. "We are witnessing an unprecedented shift in what businesses are demanding to effectively manage their supply chains. They need instant visibility, agile planning capabilities, and timely risk mitigation support," said Coupa Chief Executive Rob Bernshteyn. "LLamasoft's deep supply chain expertise and sophisticated data science and modeling capabilities, combined with the roughly $2 trillion of cumulative transactional spend data we have in Coupa, will empower businesses with the intelligence needed to pivot on a dime." Coupa's stock has run up 79.6% year to date, while the S&P 500 has gained 2.3%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 02, 2020 09:33 ET (14:33 GMT)
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