Investors sound the alarm about possible private equity tech deals

Enterprise spend management software company Coupa’s investors are ringing the alarm about a possible sale to private equity, concerned that any such transaction in the current investment environment may unreasonably limit its value.
This is something you don’t see every day. Last week, rumors surfaced that Vista Equity Partners was interested in buying Coupa. Today, Coupa’s largest shareholder, HMI Capital, with 4.8% of the stock, made a letter to the Coupa board public, stating that it would oppose any deal that it believed undervalued the company.
It pegged its value at a minimu

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