Zuora, a California-headquartered, cloud-based subscription management platform provider, announced on Wednesday that it has acquired London-based Zephr, a subscription experience platform.
As per the agreement, Zuora will acquire Zephr for $44M (approximately €43.9M) in cash payable at close, plus an earnout of up to $6M (approximately €5.9M), subject to certain financial objectives.
Aim of the acquisition
The US company expects the acquisition to contribute $5M (approximately €4.9M) to its annual recurring revenue.
Upon closing the deal, Zephr will become a part of Zuora’s existing product suite, alongside Zuora Billing, Zuora Revenue, and Zuora Collect. All of Zephr’s employees will join Zuora.