Consortium led by Hellman & Friedman and Permira completes acquisition of Zendesk

SAN FRANCISCO, November 22, 2022 — Zendesk, Inc. today announced the completion of its acquisition by an investor group led by Hellman & Friedman and Permira in an all-cash transaction that values the company at approximately $10.2 billion. The acquisition was previously announced on June 24, 2022 and approved by Zendesk stockholders at the Special Meeting of Stockholders held on September 19, 2022.

Under the terms of the merger agreement, Zendesk shareholders will receive $77.50 per share in cash. In connection with the completion of the transaction, Zendesk common stock ceased trading and will be delisted from the New York Stock Exchange. Zendesk will operate as a privately held company and will remain headquartered in San Francisco.

Qatalyst Partners and Goldman Sachs & Co. LLC served as financial advisors to Zendesk in connection with the transaction. Wachtell, Lipton, Rosen & Katz served as Zendesk’s 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.