Trade Extensions, an Uppsala-based SAAS for procurement, acquired by American Coupa for $45M.

Trade Extensions, an Uppsala, Sweden-founded SAAS company, was acquired by Coupa, in a purchase agreement announced after market close on April 7. Coupa will pay $45 million for Trade Extensions in a cash and stock deal - $41 million will be paid in cash and $4 million in stock.

Trade Extensions was founded in 2000 by Arne Andersson, Fredrik Ygge and Mattias Willman, and merged in 2007 with a British company, Freight Traders, led by Garry Mansell, who is the current CEO. The company has developed a sourcing solution for assisting enterprises in strategic sourcing operations, and it is selling it on a software as a service model.

Coupa is a cloud-based spend management software company located in San Mateo, California. The company was founded in 2006 by Dave Stephens and Noah Eisner, who previously worked at Oracle.