Deals
Software Maker Zendesk to Be Bought by Investor Group in $9.5 Billion Cash Deal
Zendesk Inc. headquarters in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Software maker Zendesk Inc agreed to be acquired by a group of buyout firms led by Hellman & Friedman and Permira for about $9.5 billion.
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.