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Software Maker Zendesk To Be Bought by Investor Group in $9.5 Billion Cash Deal
source link: https://tech.slashdot.org/story/22/06/24/1441245/software-maker-zendesk-to-be-bought-by-investor-group-in-95-billion-cash-deal
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Software Maker Zendesk To Be Bought by Investor Group in $9.5 Billion Cash Deal
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Software maker Zendesk agreed to be acquired by a group of buyout firms led by Hellman & Friedman and Permira for about $9.5 billion. From a report: The all-cash transaction offers shareholders $77.50 a share, a premium of 34% over Zendesk's closing stock price on Thursday, the company said in a statement on Friday. The stock jumped about 29% to $74.75 on the news. Including debt, the deal is valued at about $10.2 billion. The announcement comes after Zendesk said earlier this month that it would remain independent after failing to find a potential buyer. The San Francisco-based company said June 9 that it would no longer seek to sell itself after a strategic review that reached out to 16 potential strategic partners and 10 financial sponsors. Ultimately, "no actionable proposals were submitted," Zendesk said in a statement, and final bidders cited "adverse market conditions and financing difficulties at the end of the process."
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