Adds background, shares
Nov 2 (Reuters) – Coupa Software Inc COUP.O said on Monday it acquired supply chain software firm LLamasoft for about $1.5 billion to strengthen its payment management platform, which helps manage expenses.
LLamasoft software uses artificial intelligence to help manage and structure supply chains. The firm counts companies such as Boeing Co BA.N, Home Depot Inc HD.N and Nestle SA NESN.S among its customers.
As of January, over 1,300 customers had subscribed to Coupa’s platform.
Coupa shares fell 2.5% in early trading.
(Reporting by Ayanti Bera in Bengaluru; Editing by Ramakrishnan M.)
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