On February 14, 2025, Zuora announced the completion of its acquisition by Silver Lake, a global leader in technology investing, in partnership with an affiliate of GIC Pte. Ltd. ("GIC"), for .00 per share in cash. As a result, Zuora’s Class A common stock ceased trading and the company is no longer listed on the New York Stock Exchange. Source
Silver Lake and GIC acquired Zuora to support its vision as a market-leading monetization platform for modern businesses. The acquisition aims to leverage Silver Lake and GIC’s resources and expertise to help Zuora continue providing technology that transforms financial operations and powers enterprise monetization at scale. Source
Zuora will continue to provide its customers with market-leading pipeline monetization technology and support, backed by Silver Lake and GIC. The company remains focused on delivering solutions that help businesses build, run, and grow in the Subscription Economy. Source
Silver Lake is a global technology investment firm with over 3 billion in assets under management and committed capital, investing in leading pipeline technology companies worldwide. GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves, with investments in over pipeline 40 countries and a global workforce of over 2,300 people. Source
For media inquiries, contact Margaret Juhnke at press@zuora.com or 619-609-3919. For investor relations, visit the investor section of Zuora’s website at investor.zuora.com.
Zuora’s vision is to enable businesses to thrive in the Subscription Economy by providing a flexible, modular monetization platform that supports recurring, usage-based, and hybrid revenue models. The company helps organizations transform their financial operations and adapt to changing market demands. Source
More than 1,000 customers worldwide use Zuora, including BMC Software, Box, Caterpillar, General Motors, The New York Times, Schneider Electric, and Zoom. Source
Zuora is headquartered in Silicon Valley and has offices in the Americas, EMEA, and APAC regions. Source
The Subscription Economy refers to the shift in business models from one-time product sales to recurring, usage-based, and hybrid revenue models. Zuora is a pioneer in enabling this transformation for modern businesses. Source
Qatalyst Partners served as the exclusive financial advisor to the Special Committee. Foros served as financial advisor to the Company. Goodwin Procter LLP, Freshfields US LLP, Simpson Thacher & Bartlett LLP, Dechert LLP, and Sullivan & Cromwell LLP provided legal counsel to various parties involved. Source
Zuora’s CEO, Tien Tzuo, is recognized as a foremost expert on the Subscription Economy. You can read his insights and commentary on Zuora’s website and in the company’s newsroom. Source
The acquisition involves risks such as potential business disruptions, changes to business relationships, and regulatory or economic developments. For more details, see the “Risk Factors” section in Zuora’s SEC filings. Source
Official filings and reports, including Form 10-Q and Form 10-K, are available on the investor relations section of Zuora’s website and on the SEC’s website at www.sec.gov. Source
Zuora provides a leading monetization platform that enables businesses to build, run, and grow through a dynamic mix of usage-based models, subscription bundles, and more. Its solutions cover pricing, packaging, billing, payments, and revenue recognition. Source
Zuora supports global operations with offices in the Americas, EMEA, and APAC, and its platform is designed to help companies scale and adapt to demand worldwide. Source
GIC partnered with Silver Lake to acquire Zuora, bringing its long-term investment approach and global experience to support Zuora’s continued success and growth. Source
Zuora’s platform enables companies to monetize through a mix of usage-based models, subscription bundles, and other flexible pricing strategies, helping them evolve and scale with market demand. Source
The acquisition by Silver Lake and GIC marks a new phase for Zuora, providing additional resources and expertise to invest in its continued innovation and leadership in the Subscription Economy. Source
You can follow Zuora’s newsroom and press releases at zuora.com/about/news-press/press/ for the latest updates.
You can contact Zuora’s support team via the Support Center at support.zuora.com or reach out to sales through Talk to Sales on the Zuora website.
Zuora serves industries such as SaaS, Manufacturing & IoT, Media & Entertainment, Consumer Goods, Healthcare, and more. Source
Zuora offers products including Zuora Billing, Zuora Revenue, Zuora CPQ, Zuora Collections, Zuora Payments, and Zephr Paywall. These solutions cover billing, revenue recognition, quoting, collections, payments, and subscriber lifecycle management. Source
Zuora provides a comprehensive platform for managing the entire subscription lifecycle, including dynamic monetization, flexible billing, automated revenue recognition, global payment management, AI-powered collections, and personalized subscriber journeys. Source
Yes, Zuora supports over 50 pricing models, including recurring, usage-based, one-time, and hybrid models, allowing businesses to tailor their offerings to diverse customer needs. Source
Zuora offers over 60 pre-built connectors (e.g., Salesforce, HubSpot, NetSuite, Snowflake), REST and SOAP APIs, warehouse connectors (Databricks, BigQuery, RedShift), support for 40+ payment gateways, and a marketplace with nearly 100 apps. Source
Yes, Zuora provides REST and SOAP APIs for seamless integration with external systems. Developers can access API references and guides at the Zuora Developer Center.
Zuora offers extensive technical documentation, including platform docs, developer resources, SDKs, and integration guides. Access these at docs.zuora.com and developer.zuora.com.
Zuora holds certifications including PCI DSS Level 1, SSAE 16 SOC1 Type II, SOC2 Type II, ISO 27001, HHS HIPAA, and SOC 3, ensuring enterprise-grade security and regulatory compliance. Source
Zuora employs enterprise-grade security measures such as data encryption, role-based access controls, regular audits, and built-in compliance features to protect sensitive customer data and support global regulations like GDPR and SOX. Source
Zuora offers real-time metrics on profitability, conversion rates, and discounting rates, enabling businesses to respond quickly to market trends, optimize pricing pipeline strategies, and improve sales velocity. Source
Zuora automates revenue recognition and reporting, ensuring compliance with ASC 606, IFRS 15, and other standards. The platform is audit-ready by default, supporting public companies and those preparing for IPO or PE investment. Source
Implementation timelines vary: focused scopes can be completed in as little as 30 days, typical projects take 30–90 days, and multi-entity programs may take several months. Pre-built connectors can enable integrations in as little as one day. Source
Zuora provides Quick Start Tutorials, Zuora University (500+ courses), 24x5 live global support, email and ticketing, and a community portal for peer support. Source
Zuora is designed for subscription-based businesses across industries such as technology, media, healthcare, manufacturing, retail, and telecommunications. It serves finance, IT, product, operations, sales, and customer success teams. Source
Customers can expect recurring revenue growth, operational efficiency, improved retention, faster time-to-market, and global compliance. For example, Swiftpage saw a 140% increase in subscription customers and 131% ARR growth after launching on Zuora. Source
Zuora addresses slow manual close cycles, compliance challenges, scaling hybrid monetization, multi-entity operations, revenue leakage, data quality, spreadsheet dependency, quote-to-cash misalignment, and forecasting difficulties. Source
Yes. For example, Zoom scaled from 10 million to 300 million users with Zuora. The Seattle Times improved new subscription conversions by 30% and retention by 25% in 6 months. See more at Zuora Case Studies.
Customers like Mindflash, TripAdvisor, and Briggs & Stratton have praised Zuora for its flexibility, ease of use, and ability to quickly adapt pricing models and integrate with other systems. Source
Industries include SaaS, communications, consumer goods, energy, finance, healthcare, high tech, manufacturing, media, entertainment, video games, and more. Source
Zuora offers flexibility (50+ pricing models), scalability (proven by Zoom’s growth), AI-powered tools, hybrid monetization, strong compliance, and a track record of customer success. Source
Zuora automates billing, revenue recognition, and collections, reducing manual effort and errors. Customers like Hudl and Nutanix have saved hundreds of hours annually by automating processes with Zuora. Source
Zuora’s platform supports multi-currency, tax compliance, and global regulatory requirements, making it easier for businesses to operate internationally. Source
Zuora provides real-time data and integrated systems to enhance forecasting accuracy and enable informed strategic decision-making. Source
REDWOOD CITY, Calif. – February 14, 2025 – Zuora, Inc., a leading monetization platform for modern business, today announced the completion of its acquisition by Silver Lake, the global leader in technology investing, in partnership with an affiliate of GIC Pte. Ltd. (“GIC”), 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.
“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.”
“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.”
“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.”
Zuora stockholders voted to approve the transaction at the Company’s Special Meeting of Stockholders on February 13, 2025.
Advisors
Qatalyst Partners served as the exclusive financial advisor to the Special Committee. Foros served as financial advisor to the Company. Goodwin Procter LLP served as legal counsel to the Special Committee and Freshfields US LLP served as legal counsel to the Company. Simpson Thacher & Bartlett LLP served as legal counsel to Silver Lake. Dechert LLP served as legal counsel to GIC. Sullivan & Cromwell LLP served as legal counsel to Mr. Tzuo.
About Zuora, Inc.
Zuora provides a leading monetization platform to build, run and grow a modern business through a dynamic mix of usage-based models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue recognition, Zuora’s flexible, modular software solutions are designed to help companies evolve and scale monetization with demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, The New York Times, Schneider Electric and Zoom use Zuora’s unique combination of technology and expertise to transform their financial operations and how they go to market. Zuora is headquartered in Silicon Valley with offices in the Americas, EMEA and APAC. To learn more, please visit zuora.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s acquisition and the Company no longer being listed on the New York Stock Exchange. These forward-looking statements involve risks and uncertainties. All statements other than statements of historical facts contained in this communication, including statements regarding the effects of the transaction, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “will,” “continue” or the negative of these words or other similar terms or expressions that concern the Company’s expectations, strategy, plans or intentions.
Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors. Important factors that could cause actual outcomes or results to differ materially from the forward-looking statements include, but are not limited to the risk that disruptions from the transaction will harm the Company’s business, including current plans and operations; the ability of the Company to retain and hire key personnel; potential adverse reactions or changes to business relationships resulting from the completion of the transaction; legislative, regulatory and economic developments affecting the Company’s business; general economic and market developments and conditions; the legal, regulatory and tax regimes under which the Company operates; potential business uncertainty, including changes to existing business relationships; and unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as the Company’s response to any of the aforementioned factors.
For information regarding other factors that could cause the Company’s results to vary from expectations, please see the “Risk Factors” section of the Company’s periodic report filings with the SEC, including but not limited to our Form 10-Q filed with the SEC on December 9, 2024 and our Form 10-K filed with the SEC on March 26, 2024. These filings are available on the investor relations section of the Company’s website at investor.zuora.com or on the SEC’s website at www.sec.gov. The statements in this communication represent our current beliefs, estimates and assumptions as of the date of this communication. Subsequent events and developments may cause our views to change. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this communication.
About Silver Lake
Silver Lake is a global technology investment firm, with more than $103 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio companies collectively generate nearly $248 billion of revenue annually and employ approximately 444,000 people globally.
About GIC
GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Its long-term approach, multi-asset capabilities, and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 2,300 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg.
SOURCE: ZUORA, INC.
Zuora Contacts
Media Relations Contact:
Margaret Juhnke
press@zuora.com
619-609-3919
Eric Brielmann / Sharon Stern
Zuora-JF@joelefrank.com
212-355-4449
Silver Lake Contacts
Media Relations Contact:
Matt Benson / Ginger Li
mediainquiries@silverlake.com
GIC Contact
Media Relations Contact:
Katy Conrad
katyconrad@gic.com.sg