Silver Lake, GIC complete $1.7bn acquisition of Zuora
Summary
Silver Lake and Singapores sovereign wealth fund GIC completed their acquisition of monetization platform Zuora in a deal valued at $1.7 billion, marking the end of the companys tenure as a publicly traded entity on the NYSE. Zuora’s monetization platform provides flexible, modular software solutions enable companies to manage everything from pricing and packaging to billing, payments and revenue recognition. The company serves more than 1,000 customers globally, including household names such as General Motors, The New York Times, Caterpillar and Zoom. According to John D. Harkey, Jr., a member of the special committee reporting to Zuoras board, more than 30 potential buyers were contacted, with over 10 parties conducting detailed due diligence. Legal counsel was provided by Goodwin Procter to the Special Committee, Freshfields US to Zuora, Simpson Thacher & Bartlett to Silver Lake, Dechert to GIC, and Sullivan & Cromwell to Tzuo.
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