Silver Lake and GIC take Zuora private

What's the deal? Silver Lake and GIC completed the take-private of Zuora, the Redwood City–based monetization / subscription billing platform, in February 2025. Stockholders received $10.00 per share in cash. The transaction had been announced in October 2024 at an enterprise value of about $1.7 billion.

Who's who? Zuora helps enterprises quote, bill, recognize revenue and manage recurring customer relationships. Silver Lake had already invested post-IPO equity in Zuora in 2022 and returned with GIC to take the company private.

Why it matters. The deal is a classic Silver Lake large-cap software take-private: pairing long-duration capital with a category software platform so management can invest through product and go-to-market cycles outside public-market reporting pressure.

Sources: Business Wire — close · Business Wire — agreement