Zuora CEO Tien Tzuo said the investment will support the company’s growth strategies and cement its place in the subscription economy.
Zuora, a provider of subscription-based business solutions, has signed a $1.7 billion acquisition agreement with Silver Lake and GIC. This deal will result in Zuora ending its status as a public company and becoming a private company.
It was announced that shareholders will receive 10 dollars per share in cash. It should be noted that this means an 18 percent premium over the current share price. The deal was unanimously approved by a special committee of Zuora’s independent board members. The acquisition deal is expected to close in the first quarter of 2025. Zuora CEO Tien Tzuo stated that this investment will support the company’s growth strategies and cement its place in the subscription economy.
Zuora, a provider of subscription-based business solutions, has signed a $1.7 billion acquisition agreement with Silver Lake and GIC. This deal will result in Zuora ending its status as a public company and becoming a private company.
It was announced that shareholders will receive 10 dollars per share in cash. It should be noted that this means an 18 percent premium over the current share price. The deal was unanimously approved by a special committee of Zuora’s independent board members. The acquisition deal is expected to close in the first quarter of 2025. Zuora CEO Tien Tzuo said the investment will support the company’s growth strategies and cement its place in the subscription economy.
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Founded in 2007 by Cheng Zou, KV Rao and Tien Tzuo, Zuora offers software that helps modern businesses manage their subscription and usage-based models. The US-based company develops flexible solutions in areas such as pricing, billing, payments and revenue recognition. Zuora serves more than 1,000 customers. Zuora’s clients include companies such as BMC Software, General Motors, The New York Times and Zoom.
Silver Lake is a private equity firm specializing in technology investments. The company invests in many technology companies around the world. GIC is an investment fund owned by the Singapore government. The investment fund draws attention with its long-term investments.
