<p><strong>REDWOOD CITY</strong> &#8212; Zuora, Inc., a subscription management platform for businesses, has been acquired by Silver Lake, the global leader in technology investing, in partnership with an affiliate of GIC Pte., for $10.00 per share in cash. With the completion of the acquisition, Zuora’s Class A common stock will cease trading and the Company will no longer be listed on the New York Stock Exchange.</p>
<p>“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 Silver Lake and GIC is an important milestone in the next phase of our journey. With the support of both partners, we will continue to provide our customers with the market-leading technology necessary to transform their financial operations and power enterprise monetization at scale.”</p>
<p>“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 Silver Lake and Mike Widmann, Managing Director at Silver Lake. “Zuora’s capabilities are increasingly strategic to drive growth and simplicity in a highly dynamic technology environment for both enterprises and consumers.”</p>
<p>“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, Americas at GIC. “Working alongside Zuora’s management team and our partners at Silver Lake, we will be able to leverage our collective resources, experience, and long-term outlook to invest in Zuora’s continued success and deliver on our shared vision for the future.”</p>

EMERYVILLE -- Oxide Computer Company, a maker of cloud computers for data centers, has raised a $445…
SAN FRANCISCO -- Sabi has raised a $50 million seed round, led by Khosla Ventures, to…
SAN FRANCISCO -- Uber Technologies plans to acquire ezCater, a national platform for businesses to…
SAN FRANCISCO -- Factory, a company specializing in self-improving software development, announced that Menlo Ventures…
SAN FRANCISCO -- Instinct, a company building a personal agent for everyday life, has raised…
LOS ALTOS -- Matter Venture Partners has closed its second fund at $450 million. The…