(Bloomberg) — Zuora Inc. is exploring options including a potential sale, people with knowledge of the matter said.
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The California-based software company is working with advisers as it seeks to gauge interest from possible suitors, according to the people, who asked not to be identified discussing confidential information.
Shares in Zuora have risen about 3% in New York trading over the last 12 months. The company has a market value of roughly $1.3 billion. Zuora is likely to attract interest from private equity firms and other software companies, the people said.
Zuora provides software to help companies manage subscription-based billing. In 2022, it received a $400 million strategic investment from private equity firm Silver Lake Management. Joe Osnoss, managing partner at Silver Lake, sits on the board of Zuora.
Deliberations are ongoing and there’s no certainty they’ll result in a sale, they said. A representative for Zuora couldn’t immediately be reached for comment.
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