Zuora Achieves Milestone with Acquisition by Silver Lake and GIC
Deal News | Feb 14, 2025 | SilverLake
Zuora, Inc., a prominent monetization platform, has announced the completion of its acquisition by Silver Lake, a global leader in technology investing, in conjunction with GIC Pte. Ltd. The deal, valued at $10.00 per share in cash, marks a significant transformation for Zuora as it ceases trading on the New York Stock Exchange. This strategic move is hailed by Zuora's leadership as a crucial advancement in embracing the Subscription Economy, characterized by recurring, usage-based revenue models. Zuora's founder, Tien Tzuo, expressed optimism about the collaboration with Silver Lake and GIC, emphasizing the potential to enhance their market-leading technology. The acquisition was sanctioned by Zuora's stockholders, reaffirming confidence in the company's ongoing growth. Both Silver Lake and GIC expressed excitement about leveraging their expertise to fortify Zuora's position in the evolving technological landscape. The transaction was facilitated by strategic advisory services from Qatalyst Partners, Foros, and a series of top-tier legal advisors. Silver Lake, with substantial global assets under management, and GIC, a major player in Singapore's financial strategy, join forces to empower Zuora's future in the digital economy.
Sectors
- Technology Investment
- Financial Services
- Subscription Economy
Geography
- United States – Zuora is headquartered in Silicon Valley and is a significant player in the US technology scene.
- Singapore – GIC, partnering in the acquisition, is based in Singapore and plays a crucial role in financial strategies originating from this geography.
Industry
- Technology Investment – Silver Lake is a global leader in technology investing, demonstrating relevance to the acquisition value proposition.
- Financial Services – The acquisition involves significant financial advisory and legal services, highlighting the involvement of advisory bodies in financial transactions.
- Subscription Economy – Zuora's focus on subscription models indicates its pivotal role in the shift towards recurring revenue models, relevant to its strategic vision.
Financials
- $10.00 per share – The acquisition price per share offered by Silver Lake and GIC.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Zuora, Inc. | Target | Company | A leading monetization platform involved in providing subscription model solutions and now acquired by Silver Lake and GIC. |
| Silver Lake | Bidding Company | Company | A global technology investment firm leading the acquisition of Zuora. |
| GIC Pte. Ltd. | Co-Bidding Company | Company | A sophisticated global investment firm based in Singapore, partnering with Silver Lake in this acquisition. |
| Qatalyst Partners | Financial Advisor | Company | Exclusive financial advisor to the Special Committee for the Zuora acquisition. |
| Foros | Financial Advisor to the Company | Company | Provided financial advisory to Zuora itself for the transaction. |
| Goodwin Procter LLP | Legal Advisor to Special Committee | Company | Served as legal counsel to the Special Committee involved in the acquisition. |
| Freshfields US LLP | Legal Advisor to the Company | Company | Provided legal counsel directly to Zuora. |
| Simpson Thacher & Bartlett LLP | Legal Advisor to Silver Lake | Company | Provided legal counsel to Silver Lake for the transaction. |
| Dechert LLP | Legal Advisor to GIC | Company | Provided legal counsel to GIC in the context of the acquisition. |
| Sullivan & Cromwell LLP | Legal Advisor to Mr. Tzuo | Company | Legal counsel to Zuora's founder, Tien Tzuo, involved in representing his interests. |
| Tien Tzuo | Founder, CEO and Chairman of Zuora | Person | Instrumental in driving the strategic direction of Zuora towards the acquisition. |