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InsideArbitrage Potential Deal Alert: Billing Software Firm Zuora (ZUO) Explores Sale

  • April 17, 2024

POTENTIAL DEAL DETAILS

StockZuora, Inc.SymbolZUO
Date Announced04/17/2024Source Reuters
TypeUnsolicited BidAcquiring Company/Person N/A

According to Reuters, Zuora (ZUO), which makes subscription management software for businesses, is exploring options that include a sale after receiving acquisition interest from potential suitors. Zuora (ZUO) has tapped investment bank Qatalyst Partners to advise on discussions with potential acquirers, which include private equity firms.

Zuora’s board has formed a special committee comprising independent directors to handle the company’s discussions on a deal to allow for the possibility that its CEO and founder Tien Tzuo and some other large shareholders may participate in the transaction, one of the sources said.

According to recent company filings, Tzuo holds about 43% of Zuora’s total voting rights through a special class of shares.

Zuora Investor Relations

Update(s):

May 02, 2024: Zuora (ZUO) has announced a cooperation agreement with activist Scalar Gauge. As part of the agreement, Zuora has agreed to appoint director nominees designated by Scalar Gauge to its board.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.