Silver Lake and GIC Complete Acquisition of Zuora
Zuora has announced the completion of its acquisition by Silver Lake and GIC for $10.00 per share in cash. Following the acquisition, Zuora's Class A common stock will cease trading and will be delisted from the New York Stock Exchange.
The transaction, approved by Zuora stockholders on February 13, 2025, marks a significant milestone for the company's future development. Silver Lake and GIC aim to support Zuora's continued growth in providing monetization platform services for recurring, usage-based, and hybrid revenue models.
The deal involved multiple advisors: Qatalyst Partners as exclusive financial advisor to the Special Committee, Foros as financial advisor to the Company, with various legal firms including Goodwin Procter, Freshfields US, Simpson Thacher & Bartlett, Dechert, and Sullivan & Cromwell serving different parties in the transaction.
Zuora ha annunciato il completamento della sua acquisizione da parte di Silver Lake e GIC a $10,00 per azione in contante. Dopo l'acquisizione, le azioni ordinarie di classe A di Zuora smetteranno di essere negoziate e saranno rimosse dalla Borsa di New York.
La transazione, approvata dagli azionisti di Zuora il 13 febbraio 2025, segna un traguardo significativo per lo sviluppo futuro dell'azienda. Silver Lake e GIC intendono supportare la continua crescita di Zuora nella fornitura di servizi di piattaforma per la monetizzazione di modelli di entrate ricorrenti, basati sull'uso e ibridi.
L'accordo ha coinvolto più consulenti: Qatalyst Partners come consulente finanziario esclusivo del Comitato Speciale, Foros come consulente finanziario della Società, con vari studi legali tra cui Goodwin Procter, Freshfields US, Simpson Thacher & Bartlett, Dechert e Sullivan & Cromwell che hanno assistito diverse parti nella transazione.
Zuora ha anunciado la finalización de su adquisición por parte de Silver Lake y GIC por $10.00 por acción en efectivo. Tras la adquisición, las acciones ordinarias de Clase A de Zuora dejarán de cotizar y serán eliminadas de la Bolsa de Nueva York.
La transacción, aprobada por los accionistas de Zuora el 13 de febrero de 2025, marca un hito significativo para el futuro desarrollo de la empresa. Silver Lake y GIC tienen como objetivo apoyar el crecimiento continuo de Zuora en la provisión de servicios de plataformas de monetización para modelos de ingresos recurrentes, basados en el uso y híbridos.
El acuerdo involucró a múltiples asesores: Qatalyst Partners como asesor financiero exclusivo del Comité Especial, Foros como asesor financiero de la Compañía, con varias firmas legales incluyendo Goodwin Procter, Freshfields US, Simpson Thacher & Bartlett, Dechert y Sullivan & Cromwell que sirvieron a diferentes partes en la transacción.
Zuora는 Silver Lake와 GIC에 의해 주당 $10.00의 현금으로 인수 완료를 발표했습니다. 인수 후, Zuora의 클래스 A 보통주는 거래가 중단되고 뉴욕 증권 거래소에서 상장 폐지됩니다.
2025년 2월 13일 Zuora 주주들의 승인을 받은 이번 거래는 회사의 미래 발전에 중요한 이정표가 됩니다. Silver Lake와 GIC는 반복적이고 사용 기반 및 하이브리드 수익 모델을 위한 수익화 플랫폼 서비스를 제공하는 Zuora의 지속적인 성장을 지원할 계획입니다.
이번 거래에는 여러 자문사가 참여했습니다: 특별위원회에 대한 독점 재무 자문사로 Qatalyst Partners, 회사에 대한 재무 자문사로 Foros, Goodwin Procter, Freshfields US, Simpson Thacher & Bartlett, Dechert 및 Sullivan & Cromwell 등 다양한 법률 회사가 거래의 여러 당사자를 지원했습니다.
Zuora a annoncé l'achèvement de son acquisition par Silver Lake et GIC pour 10,00 $ par action en espèces. Suite à l'acquisition, les actions ordinaires de classe A de Zuora cesseront d'être négociées et seront retirées de la Bourse de New York.
La transaction, approuvée par les actionnaires de Zuora le 13 février 2025, marque une étape significative pour le développement futur de l'entreprise. Silver Lake et GIC visent à soutenir la croissance continue de Zuora dans la fourniture de services de plateformes de monétisation pour des modèles de revenus récurrents, basés sur l'utilisation et hybrides.
L'accord a impliqué plusieurs conseillers : Qatalyst Partners en tant que conseiller financier exclusif du Comité spécial, Foros en tant que conseiller financier de la Société, avec divers cabinets d'avocats, dont Goodwin Procter, Freshfields US, Simpson Thacher & Bartlett, Dechert et Sullivan & Cromwell, qui ont servi différentes parties dans la transaction.
Zuora hat den Abschluss seiner Übernahme durch Silver Lake und GIC zu einem Preis von 10,00 $ pro Aktie in bar bekannt gegeben. Nach der Übernahme wird die Stammaktie der Klasse A von Zuora nicht mehr gehandelt und von der New Yorker Börse delistet.
Die Transaktion, die am 13. Februar 2025 von den Aktionären von Zuora genehmigt wurde, stellt einen bedeutenden Meilenstein für die zukünftige Entwicklung des Unternehmens dar. Silver Lake und GIC haben das Ziel, das kontinuierliche Wachstum von Zuora bei der Bereitstellung von Monetarisierungsplattformdiensten für wiederkehrende, nutzungsbasierte und hybride Einnahmemodelle zu unterstützen.
Bei dem Deal waren mehrere Berater beteiligt: Qatalyst Partners als exklusiver Finanzberater des Sonderausschusses, Foros als Finanzberater des Unternehmens, sowie verschiedene Kanzleien wie Goodwin Procter, Freshfields US, Simpson Thacher & Bartlett, Dechert und Sullivan & Cromwell, die unterschiedliche Parteien in der Transaktion vertreten haben.
- Acquisition completed at $10.00 per share in cash, providing immediate value to shareholders
- Strategic partnership with major technology investor Silver Lake and sovereign wealth fund GIC
- Access to additional resources and expertise for company growth
- Delisting from NYSE reduces public trading liquidity for investors
- Going private limits public shareholders' ability to participate in future growth
Insights
The completion of Zuora's privatization deal at
The deal structure reveals an interesting dynamic in the current market environment. Silver Lake's expertise in technology transformations, combined with GIC's patient capital approach, creates an optimal environment for Zuora's next growth phase. This partnership model - combining a tech-focused private equity firm with a sovereign wealth fund - has proven successful in other digital transformation scenarios.
The privatization timing is particularly strategic, occurring when many SaaS companies are facing pressure to demonstrate profitability over growth. Private ownership will allow Zuora to:
- Execute longer-term strategic initiatives without quarterly earnings pressure
- Invest more aggressively in product development and market expansion
- Potentially pursue strategic acquisitions to consolidate its market position
- Optimize operations and enhance margins without public market scrutiny
The transaction also signals strong institutional confidence in the subscription economy's future growth trajectory. Silver Lake and GIC's involvement suggests they see significant untapped value in Zuora's market position and technology platform, particularly as enterprises increasingly adopt complex hybrid revenue models.
For the broader SaaS sector, this deal highlights the growing interest from private equity in subscription-based business models, potentially catalyzing similar transactions for other mid-sized SaaS companies. The involvement of GIC also underscores the rising importance of sovereign wealth funds in technology investments, particularly in companies with strong recurring revenue profiles.
“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,” said Tien Tzuo, Zuora’s Founder, CEO and Chairman of the Board. “Completing this transaction with
“We are pleased to continue our partnership with Zuora and its team of ZEOs as they enable customers globally with its leading monetization platform,” said Joe Osnoss, Managing Partner at
“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,” said Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC and Eric Wilmes, Head of Private Equity,
Zuora stockholders voted to approve the transaction at the Company’s Special Meeting of Stockholders on February 13, 2025.
Advisors
Qatalyst Partners served as the exclusive financial advisor to the Special Committee. Foros served as financial advisor to the Company. Goodwin Procter LLP served as legal counsel to the Special Committee and Freshfields US LLP served as legal counsel to the Company. Simpson Thacher & Bartlett LLP served as legal counsel to
About Zuora, Inc.
Zuora provides a leading monetization platform to build, run and grow a modern business through a dynamic mix of usage-based models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue recognition, Zuora’s flexible, modular software solutions are designed to help companies evolve and scale monetization with demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, The New York Times, Schneider Electric and Zoom use Zuora’s unique combination of technology and expertise to transform their financial operations and how they go to market. Zuora is headquartered in Silicon Valley with offices in the
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s acquisition and the Company no longer being listed on the New York Stock Exchange. These forward-looking statements involve risks and uncertainties. All statements other than statements of historical facts contained in this communication, including statements regarding the effects of the transaction, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “will,” "continue" or the negative of these words or other similar terms or expressions that concern the Company’s expectations, strategy, plans or intentions.
Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors. Important factors that could cause actual outcomes or results to differ materially from the forward-looking statements include, but are not limited to the risk that disruptions from the transaction will harm the Company’s business, including current plans and operations; the ability of the Company to retain and hire key personnel; potential adverse reactions or changes to business relationships resulting from the completion of the transaction; legislative, regulatory and economic developments affecting the Company’s business; general economic and market developments and conditions; the legal, regulatory and tax regimes under which the Company operates; potential business uncertainty, including changes to existing business relationships; and unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as the Company’s response to any of the aforementioned factors.
For information regarding other factors that could cause the Company’s results to vary from expectations, please see the “Risk Factors” section of the Company’s periodic report filings with the SEC, including but not limited to our Form 10-Q filed with the SEC on December 9, 2024 and our Form 10-K filed with the SEC on March 26, 2024. These filings are available on the investor relations section of the Company's website at investor.zuora.com or on the SEC's website at www.sec.gov. The statements in this communication represent our current beliefs, estimates and assumptions as of the date of this communication. Subsequent events and developments may cause our views to change. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this communication.
About
About GIC
GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Its long-term approach, multi-asset capabilities, and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in
SOURCE: ZUORA, INC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250213299888/en/
Zuora Contacts
Media Relations Contact:
Margaret Juhnke
press@zuora.com
619-609-3919
Eric Brielmann / Sharon Stern
Zuora-JF@joelefrank.com
212-355-4449
Silver Lake Contacts
Media Relations Contact:
Matt Benson / Ginger Li
mediainquiries@silverlake.com
GIC Contact
Media Relations Contact:
Katy Conrad
katyconrad@gic.com.sg
Source: Zuora, Inc.
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