H&F and Permira-led investor group completes take-private buyout of SaaS products firm Zendesk

The deal puts Zendesk at a valuation at about $10.2 billion.

  • According to terms of the deal, Zendesk shareholders will receive $77.50 per share in cash
  • As a result of the closing of this transaction, Zendesk stopped trading on the New York Stock Exchange
  • Zendesk launched in 2007 and was founded in Copenhagen, Denmark

An investor group led by Hellman & Friedman and Permira has closed its take-private acquisition of San Francisco-based Zendesk, a provider of software-as-a-service products.

The deal puts Zendesk at a valuation at about $10.2 billion.

According to terms of the deal, Zendesk shareholders will receive $77.50 per share in cash. In connection with the completion of the transaction, Zendesk stopped trading on the New York Stock Exchange.

Qatalyst Partners and Goldman Sachs & Co. LLC served as financial advisors to Zendesk while Wachtell, Lipton, Rosen & Katz served as legal advisor.

Morgan Stanley & Co. LLC served as financial advisor to the investor group. Fried, Frank, Harris, Shriver & Jacobson LLP served as M&A counsel to the investor group and to Permira. Simpson Thacher & Bartlett LLP served as financing counsel to the investor group.

Kirkland & Ellis LLP served as counsel to Hellman & Friedman.

Zendesk launched in 2007 and was founded in Copenhagen, Denmark.

H&F targets businesses in select sectors including software & technology, financial services, healthcare, consumer & retail, and other business services.

H&F has over $85 billion in assets under management as of June 30, 2022.

Founded in 1985, Permira advises funds with total assets under management of $75 billion plus.