Zendesk to be Acquired in $10.2B Deal

Jun 24, 2022 By MarketDepth

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Zendesk, Inc. (NYSE: ZEN) today announced that it entered into a definitive agreement to be acquired by an investor group led by leading global investment firms Permira and Hellman & Friedman LLC.

Gained 30% Premarket

Shares of Zendesk, Inc. (NYSE: ZEN) gained over 30% in premarket trading following the announcement. 

The all-cash transaction values Zendesk at approximately $10.2 billion, with Zendesk shareholders to receive $77.50 per share.

“This is the start of a new chapter for Zendesk with partners that are aligned with the strength of our agile products and talented team, and are committed to providing the resources and expertise to continue our growth trajectory. With Hellman & Friedman and Permira’s support, we’ll continue to execute on our long-term strategy with our customers as our top priority, taking full advantage of the opportunity we see to help businesses navigate the ever changing expectations and demands of their customers.”

Mikkel Svane, founder, Chairman and CEO, Zendesk.

In addition to Hellman & Friedman and Permira, the investor group includes a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and GIC. The transaction is expected to close in the fourth quarter of this year.

“We look forward to partnering with Zendesk’s management team and talented employees to help them accelerate product innovation and achieve their growth ambitions.”

Brian Ruder, Partner and Co-Head of Technology at Permira