Headquartered in Silicon Valley, Zuora has presence with offices across the Americas, EMEA, and APAC regions. Credit: Tada Images/Shutterstock.

Technology investment company Silver Lake and Singaporean sovereign wealth fund GIC’s affiliate have signed a definitive agreement to acquire enterprise software company Zuora in a deal valued at $1.7bn. 

Under the terms of the agreement, Silver Lake and GIC will acquire all outstanding shares of Zuora at $10.00 per share in cash.  

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This purchase price represents an 18% premium over Zuora’s closing stock price on 16 April 2024, and a 20% premium on the company’s enterprise value. 

Upon completion, expected in the first quarter of 2025, Zuora will become a privately owned company.  

The acquisition proposal received unanimous support from a special committee of independent directors on Zuora’s board. 

Following their recommendation, the Zuora Board has also unanimously approved the agreement and recommended its approval by the shareholders. 

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Founded in 2007, Zuora offers a suite of monetisation tools to support modern businesses through various pricing models, including usage-based and subscription bundles.  

Zuora claims to serve more than 1,000 clients globally, include companies such as BMC Software, Box, Caterpillar, General Motors, The New York Times, Schneider Electric, and Zoom.  

Headquartered in Silicon Valley, Zuora has presence with offices across the Americas, EMEA, and APAC regions.  

Zuora founder, CEO and chairman of the board Tien Tzuo said: “Since our founding, Zuora has evangelised the shift to the subscription economy and evolution to complex revenue models, providing technology necessary to monetize products and services.  

“As a private company, with the support and expertise of Silver Lake and GIC, our monetisation suite will continue to lead in the marketplace. We look forward to entering this next phase of growth alongside Silver Lake, GIC and our team of ZEOs.” 

In May 2023, Silver Lake agreed to acquire a minority stake in Italian cloud software development firm TeamSystem for €600m ($649m).