Silver Lake and GIC Acquire Zuora for $1.7 Billion

Zuora Acquires Togai

April 30, 2024

Cloud & SaaS

Zuora, Inc. announced it will acquire Togai, a metering and rating solution that enables usage-based billing, to enhance Zuora’s usage-based monetization capabilities. Togai’s founders and employees will join Zuora, and the deal is expected to close in early May 2024 subject to customary approvals.

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.

Zuora Acquires Zephr

August 24, 2022

Cloud & SaaS

Zuora, Inc. has acquired London-based subscription experience platform Zephr for $44 million in cash plus up to $6 million in earnouts. The acquisition adds Zephr's paywall, identity and personalization capabilities to Zuora's cloud subscription management suite, and is expected to contribute approximately $5 million to ARR and about $2 million of subscription revenue in Zuora's fiscal year 2023.

Silver Lake and Co-Investors Take Endeavor Private

March 24, 2025

Media & Entertainment

Silver Lake, in partnership with the Endeavor management team and several co-investors (including Mubadala, DFO Management, Lexington Partners, Goldman Sachs Asset Management funds, and CPP Investments), completed a take-private acquisition of Endeavor Group Holdings for $27.50 per share. The transaction consolidates ownership, rebrands the portfolio of representation businesses as WME Group, and positions the company for long-term value creation across talent representation, IP, content and sports assets.

Silver Lake Acquires 51% Stake in Altera from Intel

September 15, 2025

Manufacturing

Silver Lake has acquired a 51% majority stake in Altera Corporation from Intel, with Intel retaining a 49% interest, in an approximately $8.75 billion transaction that establishes Altera as an independent, pure‑play FPGA provider. The investment provides Altera with capital and operational independence to accelerate R&D, expand its software and hardware stack (including the Agilex family), and scale into key end markets such as data centers, telecommunications, aerospace and industrial automation.

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.