Zendesk to be acquired by investor group for $10.2 billion

Zendesk co-founder and CEO Mikkel Svane

Eric Piermont | AFP | Getty Images

Customer experience software company Zendesk agreed to be acquired by an investor group in an all-cash transaction valuing it at around $10.2 billion, the company announced Friday.

The deal, led by investment firms Permira and Hellman & Friedman, will give shareholders $77.50 per share, a premium of about 34% over the company’s closing stock price Thursday, according to the release.

Shares were up about 30% during premarket trading Friday.

The investment firms plan to take Zendesk private once the deal closes. Also included in the investor group is a wholly owned subsidiary of the Abu Dhabi Investment Authority and GIC.

Zendesk’s board unanimously approved the deal, which it expects to close in the fourth quarter of this year, the company said.

Subscribe to CNBC on YouTube.

WATCH: Zendesk receives takeover interest from private equity, according to report

Source link



CNBC is the number one business and financial news network on the planet.

Our mission is to help the influential and aspirational to make astute decisions to get ahead.

CNBC International ensures no matter where you are you can keep up to date with the latest breaking business and financial news.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.