Xpenser, a San Diego software firm that allows users to record and track expenses more efficiently in the cloud, said it was acquired by Coupa Software of San Francisco for an undisclosed price.

Coupa is a provider of cloud-based spend optimization solutions for finance. It has more than 300 customers in 40 countries, the firm said.

“The acquisition brings two companies together that are focused on innovation and customer success,” said Tony Darugar, chief executive of Xpenser.

Henry Ijams, managing director of analyst firm Pay Stream Advisors said the acquisition is a strategic move that will enable Coupa to further develop its expense management application.

— SDBJ Staff Report