Zuora Enters Into Definitive Agreement To Be Acquired By Silver Lake And GIC For $1.7B; Zuora Stockholders To Receive $10.00 Per Share In Cash

Zuora Stockholders to Receive $10.00 Per Share in Cash

Zuora, Inc. (NYSE:ZUO), a leading monetization suite for modern business, today announced that it has entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with an affiliate of GIC Pte. Ltd. ("GIC"), in a transaction valued at $1.7 billion. Upon completion of the transaction, Zuora will become a privately held company.

Under the terms of the agreement, Silver Lake and GIC will acquire all outstanding shares of Zuora common stock for $10.00 per share in cash. The purchase price represents an 18% premium to the Company's unaffected closing stock price1 and a 20% enterprise value2 premium. The agreement was unanimously approved and recommended to the Zuora Board of Directors by a Special Committee consisting of independent directors of the Board, Jason Pressman, John D. Harkey, Jr., Laura Clayton McDonnell and Tim Haley. Following the Special Committee's recommendation, the agreement has been unanimously approved and recommended for approval by stockholders by the Zuora Board.