Silver Lake and GIC Acquire Zuora

Investment firms Silver Lake and GIC are acquiring Zuora, providers of a business monetization suite, in a stock deal valued at $1.7 billion.

"Since our founding, Zuora has evangelized the shift to the subscription economy and evolution to complex revenue models, providing technology necessary to monetize products and services," said Tien Tzuo, Zuora’s founder, CEO, and chairman, in a statement. "As a private company, with the support and expertise of Silver Lake and GIC, our monetization suite will continue to lead in the marketplace. We look forward to entering this next phase of growth alongside Silver Lake, GIC, and our team of ZEOs."

"This investment underscores our confidence in Zuora as the clear leader of monetization solutions for modern recurring revenue businesses" said Joe Osnoss, managing partner at Silver Lake, and Mike Widmann, managing director at Silver Lake, in a statement. "Building upon our long-term partnership with GIC, we look forward to collectively supporting management as they continue to deliver solutions that enable their more than 1,000 customers to unlock and grow customer-centric business models."

"Zuora's best-in-class software powers the revenue engines for many of the largest and most exciting companies today," said Choo Yong Cheen, chief investment oOfficer of private eEquity at GIC, and Eric Wilmes, head of private equity, Americas at GIC, in a statement. "With rapid growth in the subscription economy, company requirements are becoming increasingly complex. Having established the category, Zuora's products and experience position it for continued market leadership. We are thrilled to work alongside Zuora's impressive management team and our partner, Silver Lake, to support the business in its next phase of growth."