Zuora (NYSE:ZUO) shares were up 5% in premarket trade, after it said it will be acquired by Silver Lake, in partnership with an affiliate of GIC, in a $1.7 billion take private deal. Under the deal, Silver Lake and GIC will acquire all outstanding shares of Zuora at $10 apiece in cash,

Billing software firm Zuora said on Thursday it has agreed to be acquired by buyout firm Silver Lake and Singaporean wealth fund GIC in a deal valued at $1.7 billion, sending its shares up nearly 6% in early trading.

Silver Lake Management and Singapore’s GIC Pte have agreed to acquire Zuora Inc. in a deal that values the software maker at $1.7 billion.