Oct 17 (Reuters) - Billing software firm Zuora ( ZUO )

said on Thursday it has entered into a definitive agreement to

be acquired by buyout firm Silver Lake and Singaporean wealth

fund GIC in a deal valued at $1.7 billion.

Shares of Zuora ( ZUO ) rose 4.8% in premarket trading.

Silver Lake and GIC will acquire all outstanding shares of

Zuora's ( ZUO ) common stock at $10 apiece in cash, which represents a

premium of 6.2% to its last close.

The offer price is an 18% premium to the closing price on

April 16, the last trading day before Reuters first reported

Zuora ( ZUO ) was exploring options after it had received acquisition

interest from potential suitors.

After the transaction is completed, Zuora ( ZUO ) will become a

privately held company.