Zuora, which makes subscription management software for businesses, is exploring options that include a sale after receiving acquisition interest from potential suitors, according to people familiar with the matter, Reuters’ Milana Vinn reports. Zuora has tapped investment bank Qatalyst Partners to advise on discussions with potential acquirers, which include private equity firms, the sources said. The company’s board has formed a special committee comprising independent directors to handle the discussions on a deal to allow for the possibility that its CEO and founder Tien Tzuo and some other large shareholders may participate in the transaction, one of the sources said. Shares of Zuora have gained more than 18% to $10 following the report.
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