Silver Lake and GIC Acquire Zuora for $1.7 Billion

Zuora to Acquire Togai to Expand Usage-Based Monetization Offerings

April 30, 2024

Cloud & SaaS

Zuora announced a planned acquisition of metering and rating solution provider Togai to enhance its usage-based monetization offerings. The deal is expected to close in early May 2024 and will integrate Togai’s low-code metering/rating and revenue simulation capabilities into Zuora’s monetization suite.

Zuora Acquires Zephr

August 24, 2022

Cloud & SaaS

Zuora, Inc. announced it will acquire Zephr, a subscription experience platform used by global digital publishing and media companies. The deal, valued at $44 million in cash plus up to $6 million in earnout, expands Zuora’s product suite for subscriber experience, entitlements, paywalls, and personalization.

Silver Lake and CPP Investments (with co-investors) Acquire Qualtrics

June 28, 2023

Cloud & SaaS

Silver Lake, in partnership with Canada Pension Plan Investment Board (CPP Investments) and several co-investors including Accel, BDT & MSD Partners and DFO Management, completed a transaction to take Qualtrics private in a deal valuing the company at approximately $12.5 billion. The investors acquired 100% of outstanding shares (including SAP’s majority stake) for $18.15 per share to support Qualtrics’ continued product and AI-driven growth as an independent, privately held enterprise cloud software platform.

Silver Lake Acquires 51% of Altera From Intel

September 15, 2025

IT Services

Silver Lake has completed its acquisition of a 51% stake in Altera from Intel for a deal valuing Altera at $8.75 billion. Intel retains a 49% stake, and the transaction establishes Altera as an independent, pure-play FPGA solutions provider to accelerate innovation and expand AI/edge and other end-market focus.

Zuora Acquires Sub(x)

June 18, 2024

AI & Machine Learning

Zuora, Inc. announced it will acquire Sub(x), an AI solution for digital publishers and media companies, to integrate AI-powered paywall and subscriber intelligence into Zuora’s monetization suite and Zephr product. The acquisition, expected to close by Zuora’s fiscal Q3 2025 subject to customary approvals, expands Zuora’s capabilities in subscriber acquisition and retention through reinforcement-learning-driven offer optimization.

Silver Lake Takes Endeavor Group Private

March 24, 2025

Media & Entertainment

Silver Lake, together with co-investors and in partnership with the Endeavor management team, completed its acquisition of Endeavor Group Holdings, taking the company private. Silver Lake and co-investors acquired 100% of the shares Endeavor did not already own, paying $27.50 per share in cash, with Endeavor’s stock ceasing to trade on the NYSE.