Billing software firm Zuora to go private in $1.7 bln deal with Silver Lake, GIC (updated)

Zuora

17/10/2024 13:59

(Adds shares in paragraph 2 and details in paragraphs 3,4,5)
       Oct 17 (Reuters) - Billing software firm Zuora  ZUO.N 
said on Thursday it has entered into a definitive agreement to
be acquired by buyout firm Silver Lake and Singaporean wealth
fund GIC in a deal valued at $1.7 billion.
    Shares of Zuora rose 4.8% in premarket trading.
    Silver Lake and GIC will acquire all outstanding shares of
Zuora's common stock at $10 apiece in cash, which represents a
premium of 6.2% to its last close. 
    The offer price is an 18% premium to the closing price on
April 16, the last trading day before Reuters first reported
Zuora was exploring options after it had received acquisition
interest from potential suitors.
    After the transaction is completed, Zuora will become a
privately held company.

 (Reporting by Priyanka.G and Jaspreet Singh in Bengaluru;
Editing by Krishna Chandra Eluri)
 ((Priyanka.G@thomsonreuters.com;))