Zuora (ZUO) has reached a definitive agreement to be acquired by Silver Lake, in collaboration with an affiliate of GIC Pte. Ltd., in a transaction totaling $1.7 billion. Under the terms of the deal, Silver Lake and GIC will purchase all outstanding shares of Zuora common stock at a price of $10.00 per share. Once finalized, this acquisition will transform Zuora into a privately held entity.
Tien Tzuo, the CEO of Zuora, will retain the majority of his current ownership in the company. He will continue to lead the organization, which will remain headquartered in Redwood City.
