Zuora acquires ‘metering and rating solution Togai,’ terms undisclosed

Zuora announced its planned acquisition of metering and rating solution Togai, “enhancing its usage-based offerings. With Togai’s low-code builder and developer-friendly interface to quickly configure metering and rating of raw events, the acquisition will help Zuora unite developers and finance teams to launch, iterate and adapt usage-based models…,” said the release…”Developers spend months building internal metering and rating systems, which can quickly evolve into a dedicated team of engineers as companies realize that building a usage-based billing system is not a one-time effort. Togai makes it possible to go live in hours with an out-of-the-box, flexible solution to model any type of pricing and reliably scale,” said Abhishek Rajagopal, CEO and Co-founder at Togai. “Combining Zuora and Togai is the right decision to bring together deep metering and rating with the scale of Zuora’s end-to-end monetization technology.” The acquisition of Togai is expected to close in early May 2024 and is subject to customary approvals and closing conditions. Foros is acting as financial advisor and Freshfields Bruckhaus Deringe as legal advisor to Zuora. QED Corporate Advisors is acting as financial advisor and Argus Partners as legal advisor to Togai