Dark Angel 760k and still delivering | SaltWire #thinkingoutloud #medicalcourier #halifax #carsNEW YORK - Zuora, which makes subscription management software for businesses, is exploring options that include a sale after receiving acquisition interest from potential suitors, according to people familiar with the matter.
Redwood City, California-based Zuora has tapped investment bank Qatalyst Partners to advise on discussions with potential acquirers, which include private equity firms, the sources said.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.
The sources cautioned that there is no certainty that any deal will materialize and asked not to be identified because the deliberations are confidential. Zuora's shares were trading at $8.98 on Wednesday, giving it a market capitalization of about $1.3 billion. Zuora has lost more than a third of its value since the company listed its shares on the stock market, as it faced stiff competition from larger players in the industry.