Couchbase shareholders approve $1.5 billion acquisition by Haveli

SAN JOSE - Couchbase, Inc. (NASDAQ:BASE) shareholders have voted to approve the company’s acquisition by Haveli Investments in an all-cash transaction valued at $1.5 billion, the developer data platform company announced Wednesday. The deal comes as Couchbase demonstrates strong financial fundamentals, with InvestingPro data showing impressive gross profit margins of 88% and a healthy current ratio of 1.8x.

Under the terms of the deal, which was initially announced on June 20, 2025, Couchbase shareholders will receive $24.50 per share, representing a significant premium considering the stock’s 52-week low of $12.78. The stock has delivered strong returns, gaining over 60% in the past year. Upon completion of the transaction, Couchbase will become a privately held company and its common stock will cease trading on the Nasdaq Stock Market. For deeper insights into company valuations and deal analysis, InvestingPro subscribers can access comprehensive research reports covering 1,400+ US stocks.

The acquisition still requires remaining regulatory approvals and satisfaction of customary closing conditions before it can be finalized, according to the company’s statement. The company maintains a strong financial position with more cash than debt on its balance sheet, as revealed by InvestingPro analysis, which includes 10+ additional financial insights available to subscribers.

Morgan Stanley & Co. LLC served as exclusive financial advisor to Couchbase, with Wilson Sonsini Goodrich & Rosati providing legal counsel. Haveli Investments worked with Jefferies LLC as lead financial advisor and Latham & Watkins LLP as legal counsel.

Couchbase provides a developer data platform designed for critical applications, uniting transactional, analytical, mobile, and AI workloads into a managed solution. The company focuses on enabling organizations to build and scale applications with performance and efficiency.

Haveli Investments, based in Austin, Texas, is a private equity firm that invests in technology sector companies through various equity and debt arrangements, with particular focus on software, data, and gaming industries.

The transaction details were included in a current report on Form 8-K filed by Couchbase with the U.S. Securities and Exchange Commission, according to the press release statement.

In other recent news, Couchbase Inc. reported second-quarter fiscal 2026 results that exceeded consensus expectations across all metrics. The company also announced an agreement to be acquired by Haveli Investments in an all-cash transaction valued at $1.5 billion, or $24.50 per share. This acquisition news has led several analyst firms to adjust their ratings for Couchbase. Guggenheim downgraded the stock from Buy to Neutral, citing the pending acquisition. Oppenheimer also downgraded Couchbase from Outperform to Perform, highlighting limited upside potential from the current trading price. Baird followed suit by downgrading the stock from Outperform to Neutral, while raising its price target to $25.00. William Blair downgraded the stock from Outperform to Market Perform, noting the acquisition’s enterprise-value-to-sales multiple of 5.7 times its calendar 2025 estimate. Similarly, Rosenblatt Securities downgraded Couchbase from Buy to Neutral, adjusting its price target to $24.50.

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