Software Firm Zuora Said to Explore Options, Including Sale (1)

Zuora Inc. is exploring options including a potential sale, people with knowledge of the matter said.

The California-based software company is working with advisers as it seeks to gauge interest from possible suitors, according to the people, who asked not to be identified discussing confidential information.

Zuora rose as much as 19% on the news, which was first reported by Reuters. The stock was up 16% at 1:51 p.m. in New York on Wednesday, giving the company a market value of about $1.4 billion.

Zuora is likely to attract interest from private equity firms and other software companies, the people ...