Zuora, which provides software to help companies manage subscription-based billing, will continue to be led by Chief Executive Officer and founder Tien Tzuo. Tzuo is rolling over a majority of his existing ownership in the firm.
Silver Lake has been invested in the company since 2022, when it injected US$400 million as part of a strategic investment aimed at helping accelerate Zuora’s growth.
Qatalyst Partners and Goodwin Procter LLP are advising Zuora’s special committee, while Foros and Freshfields are advising the company. Simpson Thacher & Bartlett LLP is working with Silver Lake, while Dechert LLP is serving as legal counsel to GIC. Sullivan & Cromwell LLP is counsel to Tzuo.
The transaction is expected to close in the first calendar quarter of 2025.
