Zuora Stock Pops on Deal To Sell to PE Firm Silver Lake

Core Insights - Zuora, an enterprise software company, announced its acquisition by Silver Lake, a tech-focused private equity firm, for $10 per share in cash, representing a 6% premium over the previous day's closing price, valuing the company at $1.7 billion [1][2] Group 1 - Zuora's shares rose nearly 6% following the acquisition announcement, aligning closely with the offer price [1] - The acquisition deal is expected to close in the first quarter of 2025 [1] - Zuora's review of strategic options led to the bid from Silver Lake and GIC, a Singaporean sovereign wealth fund, being the only final and fully financed proposal received [1] Group 2 - Silver Lake has been active in the market, having previously announced plans to acquire sports media company Endeavor and completed the purchase of Qualtrics in summer 2023 [2]