Zuora – a leading monetization platform for modern business – announced the completion of its acquisition by Silver Lake, the global leader in technology investing, in partnership with an affiliate of GIC for $10 per share in cash.
With the completion of the acquisition, Zuora’s Class A common stock will stop trading and the company will no longer be listed on the New York Stock Exchange.
Qatalyst Partners served as the exclusive financial advisor to the Special Committee. Foros served as financial advisor to the Company. Goodwin Procter served as legal counsel to the Special Committee and Freshfields served as legal counsel to the Company. Simpson Thacher & Bartlett served as legal counsel to Silver Lake. Dechert served as legal counsel to GIC. Sullivan & Cromwell served as legal counsel to Zuora founder Tien Tzuo.
Zuora stockholders voted to approve the deal at the company’s Special Meeting of Stockholders on February 13, 2025.
KEY QUOTES:
“Zuora’s vision sparked the shift to the Subscription Economy that led to today’s new world of recurring, usage-based and hybrid revenue models. Completing this transaction with Silver Lake and GIC is an important milestone in the next phase of our journey. With the support of both partners, we will continue to provide our customers with the market-leading technology necessary to transform their financial operations and power enterprise monetization at scale.”
– Tien Tzuo, Zuora’s Founder, CEO and Chairman of the Board
“We are pleased to continue our partnership with Zuora and its team of ZEOs as they enable customers globally with its leading monetization platform. Zuora’s capabilities are increasingly strategic to drive growth and simplicity in a highly dynamic technology environment for both enterprises and consumers.”
– Joe Osnoss, Managing Partner at Silver Lake and Mike Widmann, Managing Director at Silver Lake
“GIC is proud to partner with Zuora, a market leader and proven innovator, to meet the significant demand for its services in the Subscription Economy. Working alongside Zuora’s management team and our partners at Silver Lake, we will be able to leverage our collective resources, experience, and long-term outlook to invest in Zuora’s continued success and deliver on our shared vision for the future.”
– Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC and Eric Wilmes, Head of Private Equity, Americas at GIC
