Shares of Coupa Software (NASDAQ: COUP) surged today on news that the company was being acquired by Thoma Bravo, a well-known private equity firm focused on owning software companies. 

As of 10:52 a.m. ET, the stock was up 26.7% to $78.69.

In a press release this morning, Coupa said it had entered a definitive agreement to be acquired by Thoma Bravo for $8 billion in enterprise value, or $81 per share, in an all-cash deal. The price presents a 77% premium to Coupa's closing price on Nov. 22, after which the stock surged on reports of a possible acquisition.

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Source Fool.com