Zuora, Inc. completed the acquisition of Togai Inc for $26 million from from Boldcap Ventures LLC and Together Fund.
May 09, 2024
Share
Zuora, Inc. (NYSE:ZUO) agreed to acquire Togai Inc. from Boldcap Ventures LLC and Together Fund on April 30, 2024. Abhishek Rajagopal, Aravind Sriraman, and Tholkappiyan Velavan, will join Zuora with Togai employees. After closing, Togai?s metering and rating solution will become a part of Zuora?s existing product suite alongside Zuora Billing, Zuora Revenue, Zuora Payments, Zephr and Zuora Platform. The acquisition of Togai is subject to customary approvals and closing conditions. The acquisition of Togai is expected to close in early May 2024. Foros is acting as financial advisor and John Fisher, Mena Kaplan, Joe Soltis, Brandon Gantus, Chris Lyon, Brock Dahl, Justin Stewart-Teitelbaum, Matthew McDonald, and Jeremiah Nelson of Freshfields Bruckhaus Deringer US LLP as legal advisor to Zuora. QED Corporate Advisors is acting as financial advisor and Neha Madan of Argus Partners as legal advisor to Togai.
Zuora, Inc. (NYSE:ZUO) completed the acquisition of Togai Inc. from Boldcap Ventures LLC and Together Fund for $26 million on May 9, 2024. The purchase price of $26 million, with $21 million in cash paid at closing. As a part of the acquisition, Argus Partners also advised the existing investors of Togai Inc. i.e., Together Fund and Boldcap on the sale of their respective shares.
Zuora, Inc. is a monetization platform provider for recurring revenue businesses. The Companyâs technology solutions enable companies across multiple industries and geographies to build, run, and grow a modern business, automating the quote-to-revenue process, including offers, billing, collections, and revenue recognition. Its solution includes Zuora Billing, Zuora Revenue, Zuora Payments, Zephr, and Zuora Platform. Zuora Billing helps users to set payment terms, manage billing relationships, consolidate invoicing across multiple subscriptions, and tax transactions. Zuora Revenue is a revenue recognition and automation solution that accounting teams use to manage their complex revenue streams. Zuora Payments is designed to provide payment orchestration services for companies looking to operate globally, helping them in conversions while reducing costs. The Company also provides an event-based, real-time metering and rating infrastructure for usage-based businesses.