Shares of Zuora (ZUO) rose Thu𒉰rsday after the company an🌜nounced a private equity firm would purchase it. 

Zuora, an enterprise software company that went public in 2018, said it would sell to Silver Lake, a tech-focused private equity firm, for $10 per share in cash, a 6% premium to Wednesday’s close, valuing it at $1.7 billion. The stock was recently up nearly 6% to🌟 right around the deal price.

The deal is expected to close in the first quarter of 2025. Zuora, which had undertaken a review of strategic options, said the bid from Silver Lake and GIC, a Singaporean 澳洲幸运5官方开奖结果体彩网:sovereign wealth fund, was the only “final, fully-financed pᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚropos🌌al received.”

Zuora’s shares are up𝓀 about 6% this year, rising for most of⭕ October.

The deal is the latest for Silver Lake, which earlier this year announced plans to buy sports media company Endeavor (EDR) and in summer 2023 closed on the purchase of Qualtrics.