REDWOOD CITY, Calif. & LONDON -- (Business Wire)
Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, has completed its acquisition of Zephr, a leading subscription experience platform used by global digital publishing and media companies. By adding Zephr's capabilities, Zuora(TM) will enable companies in the media industry and beyond to nurture and monetize their subscriber relationships by better understanding their behaviors, experimenting with the right digital offerings, and optimizing their digital experiences.
"As the competition for subscribers becomes increasingly intense in media, digital publishing, and beyond, companies must keep subscribers engaged with the right offers and the right packages at the right time," said Tien Tzuo, CEO and Founder at Zuora. "That's where Zuora comes in. With our acquisition of Zephr, we're adding new capabilities to create a one-stop-shop to succeed in the Subscription Economy(TM)."
"As a long-term partner, we are thrilled to join Zuora," said James Henderson, CEO at Zephr. "With the combination of products, our customers will be able to fully understand the entire subscriber journey, helping them nurture and monetize subscriber relationships."
"Subscriber experience and sophisticated billing often operate in parallel, largely disconnected universes," said Igor Stenmark, Managing Director at MGI Research. "The combination of Zuora and Zephr has the potential to create a robust approach to help organizations better monetize their subscriber relationships, improve retention, and accelerate growth across a broad range of industries such as media and digital publishing, among others."
Zuora acquired Zephr for $44 million in cash, plus an earnout consideration of up to $6 million, subject to certain financial objectives. The transaction was previously announced on August 24, 2022.
To learn more, please visit zuora.com.
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy(TM), the Zuora platform was architected specifically for dynamic, recurring subscription business models, and acts as an intelligent subscription management hub that automates and orchestrates the entire quote to cash and revenue recognition process. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet, and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.
copyright 2022 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies.
Zephr is a leading subscription experience platform, headquartered in London, focused on accelerating revenue growth for the world's leading digital publishing and media companies. With a best-in-breed solution, Zephr combines an intuitive user interface and plug-and-play integrations to let commercial and technical teams develop powerful subscription relationships and deliver personalized experiences for every customer at the right time for the right price. Unlock your subscription revenue potential with Zephr.
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Zuora's business strategy, plans, and objectives for future operations, including the anticipated impact of the acquisition of Zephr on Zuora's business and future financial and operating results, the ability of Zuora to successfully integrate Zephr operations and technology, and the expected amount and timing of synergies and benefits from the acquisition; Zuora's market opportunity, including trends in the pace of the subscription economy; the market for subscription-related products and trends in this market, future growth and related targets; expectations for our industry and business, such as our business model, demand for our products, and expected benefits and scale of our products; and expectations regarding the expansion of our product portfolio, including through acquisitions. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: risks associated with Zuora's strategies, priorities, or plans taking longer to execute than anticipated; general market, business, competitive, economic conditions, including the effects of currency rate exchange fluctuations, inflation and recession; fluctuations in the trading prices of our stock as a result of volatility in the market; political conditions, including war, conflict or acts of terrorism, such as the ongoing conflict in Ukraine; future responses to and effects of the ongoing COVID-19 pandemic and other public health crises.
Additional risks and uncertainties that could affect our financial results are included under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2022, which is available on the "Investors" page of our website at https://investor.zuora.com and on the U.S. Securities and Exchange Commission's website at www.sec.gov. All forward-looking statements contained herein are based on information available to us as of the date hereof and we do not assume any obligation to update these statements as a result of new information or future events.
SOURCE: ZUORA FINANCIAL
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Source: Zuora, Inc.
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