Vista Equity Partners Is Exploring a Deal for Coupa Software

Vista Equity Partners is exploring an acquisition of Coupa Software Inc., according to people familiar with the matter. The stock rose as much as 36% on the news.

Vista has held talks with the San Mateo, California-based company, which is working with an adviser, said the people, who asked to not be identified because the matter isn’t public. Private-credit lenders could provide financing for a potential deal, the people said.