Shares of Coupa, San Mateo, Calif., at last check were down 1.9% at $262.72.
Coupa expects the transaction to close Monday. This is Coupa's third acquisition this year, The Wall Street Journal said.
Coupa's platform helps businesses manage procurement, invoicing, payments, sourcing and other spending functions. It manages more than $1.95 trillion of cumulative spending by its customers.
"We've pulled all these siloed processes together," Coupa Chief Executive Rob Bernshteyn told the Journal. "We're like Salesforce (CRM) - Get Report but on the supply-chain management side of the house."
Bernshteyn said the events this year, including shortages of goods from household staples to industrial components, amid coronavirus-driven lockdowns demonstrated that businesses must be able to respond quickly to supply volatility and shifting demand.
"Supply chains need to be sorted out in 2021 and 2022, and we want to be a strategic partner to the companies," he said.
LLamasoft was recently named to Inc.'s 5000 List of Fastest Growing Private Companies, its fifth year on the list.
Employing roughly 573, Llamasoft is backed by the San Francisco private-equity firm TPG Capital, which took a stake in 2017.
Combining Coupa's spending-management execution core and market reach with LLamasoft's AI-powered supply chain analytics brings together "digital transformation solutions that drive decision making and operational efficiency across the enterprise," Razat Gaurav, CEO at LLamasoft, said in a statement.