Zuora is being acquired by Silverlake and GIC for $1.7B
The acquisition price comes in at 4X ARR.
About an 18% premium on the share price prior to the announcement.
More than 50% lower than their peak valuation in late 2021.
This is now the second enterprise SaaS take private in the last few weeks.
Smartsheet is also being acquired by Vista Equity partners.
In that case, Smartsheet investors will get a 40% premium.
Tells me that perhaps there wasn't another competitive bid for Zuora.
But seems cheap.
4X ARR.
FCF positive
104% NRR.
Still growing.
I like the buy here from Silverlake.
