Zuora Stock Spikes on Report It Could Be Acquired -- Barrons.com

Dow Jones04-18

By Eric J. Savitz

Shares of Zuora spiked 14% on Wednesday after a media report that said the provider of subscription management software has received acquisition offers.

The company has hired investment bank Qatalyst Partners "after receiving acquisition interest from potential suitors," including private equity firms, Reuters reported.

Zuora didn't immediately respond to a request for comment. Qatalyst couldn't immediately be reached.

The report said CEO and founder Tien Tzuo holds about 43% voting control of the company and could participate in a deal to take the company private.

Zuora raised $400 million in 2022 through a convertible note and warrant placement with the private equity firm Silver Lake, which is considering whether to bid or be part of a go-private transaction, Reuters said.

Silver Lake declined to comment.

Even with today's jump in the stock price, Zuora shares are up by 4% this year. Zuora has a market cap of $1.4 billion.

Write to Eric J. Savitz at eric.savitz@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

April 17, 2024 15:43 ET (19:43 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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