Zuora jumps after Reuters reports co exploring sale

Zuora

17/04/2024 18:52

** Shares of billing software firm Zuora  ZUO.N  surge 16.2%
to $9.84, on track for their best day in nearly a year 
    ** Reuters reports co is exploring options, including a
sale, after receiving acquisition interest, acc to people
familiar with the matter 
    ** Investment bank Qatalyst Partners to advise on
discussions with potential acquirers - report 
    ** Special committee formed to discuss deal to allow for the
possibility of the CEO and some other large shareholders to
participate in transaction
    ** Co's CEO Tien Tzuo holds about 43% of ZUO's total voting
rights through a special class of shares
    ** ZUO stands at a market cap of $1.24 bln as of last close
- LSEG data 
    ** Stock rose 47.8% in 2023, 5.3% YTD

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))