Zendesk to be acquired by investor group for $10.2 billion


Zendesk co-founder and CEO Mikkel Svane

Eric Piermont | AFP | Getty Images

Customer expertise software program firm Zendesk agreed to be acquired by an investor group in an all-cash transaction valuing it at round $10.2 billion, the corporate announced Friday.

The deal, led by funding corporations Permira and Hellman & Friedman, will give shareholders $77.50 per share, a premium of about 34% over the corporate’s closing inventory worth Thursday, in accordance to the discharge.

Shares have been up about 30% throughout premarket buying and selling Friday.

The funding corporations plan to take Zendesk personal as soon as the deal closes. Also included within the investor group is an entirely owned subsidiary of the Abu Dhabi Investment Authority and GIC.

Zendesk’s board unanimously accepted the deal, which it expects to shut within the fourth quarter of this yr, the corporate mentioned.

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