Zendesk to be acquired by investor group for $10.2 billion
Zendesk co-founder and CEO Mikel Sven
Eric Piermont | AFP | Getty Images
Customer experience software company Zendesk has agreed to be acquired by an investor group in an all-cash transaction valued at approximately $10.2 billion, the company announced Friday.
The deal, led by investment firms Permira and Hellman & Friedman, will give shareholders $77.50 per share, which is about 34% higher than the company’s closing stock price as of Thursday, according to the release.
Shares were up nearly 30% during premarket trading.
The investment firm plans to take Zendesk private after the deal closes. Also included in the investor group are the Abu Dhabi Investment Authority and a wholly owned subsidiary of GIC.
Zendesk’s board unanimously approved the deal, which is expected to close in the fourth quarter of this year.
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