Permira and H&F-led group to take Zendesk private for $10.2bn

According to terms of the deal, Zendesk will receive $77.50 per share.

  • The investor group includes a subsidiary of the Abu Dhabi Investment Authority and GIC
  • The deal is expected to close in the fourth quarter of this year
  • When the deal closes, Zendesk will stop trading on the New York Stock Exchange

An investor group led by Permira and Hellman & Friedman has agreed to acquire Zendesk Inc in a take-private deal for about $10.2 billion. According to terms of the deal, Zendesk will receive $77.50 per share.

On the deal, Mikkel Svane, founder, chairman and CEO of Zendesk, said in a statement: “This is the start of a new chapter for Zendesk with partners that are aligned with the strength of our agile products and talented team, and are committed to providing the resources and expertise to continue our growth trajectory. With Hellman & Friedman and Permira’s support, we’ll continue to execute on our long-term strategy with our customers as our top priority, taking full advantage of the opportunity we see to help businesses navigate the ever changing expectations and demands of their customers.”

In addition to Hellman & Friedman and Permira, the investor group includes a subsidiary of the Abu Dhabi Investment Authority and GIC.

The transaction is expected to close in the fourth quarter of this year. When the deal closes, Zendesk will stop trading on the New York Stock Exchange and operate as a privately-held company.

Qatalyst Partners and Goldman Sachs & Co. LLC are serving as financial advisors to Zendesk in connection while Morgan Stanley is serving as financial advisor to the investor group.

Zendesk was launched in 2007 and today employs more than 6,000 people across the world.