Zendesk to be acquired for $10.2B
This comes after rejecting a $17 billion offer back in February…
Ever heard of Zendesk? You probably have… Over the years the San Francisco-based company has become quite omnipotent as a SaaS customer support platform (aka support tickets!)…
Today the company announced it has entered into an agreement to be acquired by an investor group led by investment firms Permira and Hellman & Friedman LLC in an all-cash transaction (which translates into a significant $10.2 billion valuation). After the transaction concludes, Zendesk will cease to be traded on the NYSE and will become a private company.
But… and there’s a big BUT… Back in February, Zendesk rejected a $17 billion acquisition offer from other private equity firms thinking such was undervalued. Ouch…
What happened? The market conditions were simply more favorable back then and… the company missed the boat.
But not all is lost, the announcement led to shares increasing by 29% at the time of writing. Something Zendesk hasn’t seen in a while…
This story was first published on The PhilaVerse (my Substack newsletter).
