Zendesk sold to private investors two weeks after saying it would stay public
Customer service as-a-service vendor Zendesk has announced it will allow itself to be acquired for $10.2 billion by a group of investors led by private equity firm Hellman & Friedman, investment company Permira, and a wholly-owned subsidiary of the Abu Dhabi Investment Authority.
That process saw Zendesk chat to 16 potential strategic partners and ten financial sponsors, including a group of investors who had previously expressed conditional interest in acquiring the company. Zendesk even extended its discussions with some parties but eventually walked away after"no actionable proposals were submitted, with the final bidders citing adverse market conditions and financing difficulties at the end of the process.
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