Some of these large spreads might be related to regulatory issues or because of the way the deal is structured. For more information, visit www.permira.com or follow the company on LinkedIn or Twitter. With Hellman & Friedman and Permiras support, well 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., The Board conducted an extensive strategic review over a three month period, receiving an actionable offer from Hellman & Friedman and Permira after the termination of our formal process, said Carl Bass, lead independent director, Zendesk. For more than a decade I have been writing every week about M&A and interesting insider transactions. Additional Information and Where to Find It. On June 23, 2022,Adara Acquisition (ADRA)announced the signing of a definitive business combination agreementwith Alliance Entertainment Holding Corporation. The company was founded in 1990 and was acquired by investment firms Permira Funds and Technology Crossover Ventures (TCV) in On June 21, 2022,SailPoint (SAIL)received written noticefrom the UK Department for Business, Energy and Industrial Strategy (BEIS) that BEIS has concluded that no further action is to be taken in relation to the proposed transaction under the UK National Security and Investment Act 2021, as amended. Such forward-looking statements only speak as of the date of these materials, and Zendesk assumes no obligation to update any written or oral forward-looking statement made by Zendesk or on its behalf as a result of new information, future events or other factors, except as required by law. 1. Bereits im Frhjahr gab es Spekulationen, Investoren wie EQT, Hellman & Friedman und Permira htten ihre Fhler nach dem Online-Immobilienmarktplatz ausgestreckt. Additional Information and Where to Find It Zachary Tramonti +1 617-546-4250 Kirkland & Ellis LLP is serving as counsel to Hellman & Friedman. WebPrior to joining Permira he was with Francisco Partners. Our collaborative and entrepreneurial culture unites a diverse team of 450+ individuals across 16 offices around the world. Is this happening to you frequently? The Permira funds have previously backed and helped scale some of the largest and fastest-growing technology businesses globally, including Clearwater Analytics, G2, Genesys, Informatica, Klarna, Mimecast, McAfee, Seismic and TeamViewer. Jana was apoplectic, announcing earlier this month an intention to sue Zendesk. Advent International is a global private equity firm focused on buyouts of companies in Western and Central Europe, North America, Latin America and Asia. Zendesk, Inc. (NYSE: ZEN) today announced it has entered into a definitive agreement to be acquired by an investor group led by leading global investment firms These statements include those set forth above relating to the proposed transaction as well as those that may be identified by words such as will, intend, expect, anticipate, should, could and similar expressions. Wachtell, Lipton, Rosen & Katz is serving as Zendesks legal advisor. We have been publishing our two weekly articles, Insider Weekends and Merger Arbitrage Mondays, on Inside Arbitrage for free continuously for nearly 12 years. SAN FRANCISCO, Calif. Shareholders to receive $77.50 per share in cash. Learn more about H&Fs defining investment philosophy and approach to sustainable outcomes at www.hf.com. Wachtell, Lipton, Rosen & Katz is serving as Zendesks legal advisor. The acquisition ofDatto Holding (MSP) byKaseya on June 23, 2022. The firm is currently investing its tenth fund, with $24.4 billion of committed capital, and has over $85 billion in assets under management as of March 31, 2022. Under the terms of this agreement, Zendesk shareholders will receive $77.50 per share. I was one of the earliest contributors on Seeking Alpha and started publishing here in 2005. The transaction, which has been unanimously approved by Zendesks Board of Directors, is expected to close in the fourth quarter of this year and is subject to customary closing Contacts One of the reasons our firm has thrived is that people treat each other with respect and decency. People want each other to succeed, because if they succeed we succeed. Warren Hellman Zendesk to Be Acquired by Investor Group Weve been building our sector expertise for decades. We deeply believe in the companys growth opportunity as it continues to help businesses across the world delight their customers, said Tarim Wasim, Partner at Hellman & Friedman. Permira is a global investment firm. Our collaborative and entrepreneurial culture unites a diverse team of 450+ individuals across 16 offices around the world. SAN FRANCISCO--(BUSINESS WIRE)--Zendesk, Inc. (NYSE: ZEN) today announced it has entered into a definitive agreement to be acquired by an investor group led by leading global investment firms Permira and Hellman & Friedman LLC (H&F) in an all-cash transaction that values Zendesk at approximately $10.2 billion. The deal is scheduled to close in Q4 2022. Zendesk products are built with love to be loved. On June 23, 2022,Points.com (PCOM) announced that holders of Points' common sharesvoted overwhelmingly in favorof the special resolution approving the previously announced plan of arrangement, pursuant to which a wholly-owned subsidiary of Plusgrade will acquire all of the issued and outstanding common shares of Points for US$25.00 in cash per common share. On June 23, 2022,Tufin Software Technologies (TUFN)announced that the German Ministry of Economic Affairs and Climate Action hascleared the mergerunder the foreign investment law of Germany by issuing a certificate of non-objection and French Ministry of Economy, Finance and Industrial and Digital Sovereignty, has confirmed that the merger is out of the scope of review of French foreign investment law. On February 10, 2022, Zendesk rejected an unsolicited, non-binding proposal from a consortium of private equity firms to acquire all of Zendesk's outstanding shares in an all-cash transaction valued at $16 billion, in the range of $127-$132 per share. On June 20, 2022, Human Longevity, built by the pioneers of the human genome sequencing effort, and Freedom Acquisition I Corporation (, On June 21, 2022, Goldenstone Acquisition (, On June 20, 2022, The Wall Street Journal reported that JetBlue Airways (, On June 20, 2022, ManTech International Corporation (, On June 21, 2022, shareholders of LHC Group (, On June 21, 2022, The National Security Group (, On June 23, 2022, BlueCity Holdings Limited (, On June 23, 2022, Tufin Software Technologies (, On June 23, 2022, Rogers Communications (, On June 24, 2022, shareholders of Cornerstone Building Brands (. Product. FGS Global Under the terms of this agreement, Zendesk Shareholders to receive $77.50 per share in cash SAN FRANCISCO June 24, 2022 Zendesk, Inc. (NYSE: ZEN) today 16450 Zendesk, a software-as-a-service products provider, entered into a definitive agreement on October 28, 2021to acquireMomentive (MNTV), the parent of SurveyMonkey. The acquisition ofSummer Infant (SUMR) byKids2 on June 22, 2022. Zendesk to become a privately held company upon completion of the transaction. This list of factors is not intended to be exhaustive. The Permira private equity funds have made approximately 300 private equity investments in four key sectors: Technology, Consumer, Healthcare and Services. Founded in 1985, the firm advises funds with total assets under management of US$65bn+ and makes long-term majority and minority investments across two core asset classes, private equity and credit. Free copies of the Proxy Statement and such other materials may be obtained as described in the preceding paragraph. 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, said Mikkel Svane, founder, chairman and CEO, Zendesk. In connection with the proposed transaction, Zendesk will file relevant materials with the U.S. Securities and Exchange Commission (the SEC), including Zendesks proxy statement on Schedule 14A (the Proxy Statement). These statements are subject to risks and uncertainties, and actual results and events could differ materially from what presently is expected, including regarding the proposed transaction. On June 21, 2022, shareholders of LHC Group (LHCG)approved the companys mergerwith Optum,a wholly-owned subsidiary of UnitedHealth Group (UNH) at a special meeting of shareholders. Building Businesses. I have no business relationship with any company whose stock is mentioned in this article. Merger activity increased significantly last week with seven new deals announced and five deals completed. Zendesk products are built with love to be loved. Email address First name H&F: To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Adobe was #2, followed by Oracle, SAP and Accelerating sustainable growth at scale. It took 92 days for this deal to be completed. Over the past 15 years, Zendesk has revolutionized how companies serve their customers and has become a leading platform within the customer experience ecosystem. Entegris and CMC Materials anticipate that the transaction will close on or about July 6, 2022. Nina Suter Customers expect personalised experiences. In addition to Hellman & Friedman and Permira, the investor group includes a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and GIC. It is one of the oldest private equity investment firms in the world. The extensive strategic review process included the evaluation of both standalone and transactional alternatives and considered a range of factors including current and anticipated market conditions, business momentum and long-term outlook. Learn more about H&Fs defining investment philosophy and approach to sustainable outcomes at www.hf.com. The acquisition of Convey Health Solutions Holdings(CNVY) by TPG Capital for $1.1 billion or $10.5 per share in cash. Simpson Thacher & Bartlett LLP is serving as financing counsel to the investor group. Software-as-a-service (SaaS) platform Zendesk has been acquired by a group led by global investment firms Permira and Hellman & Friedman in a $10.2 billion all-cash The Permira funds have an extensive track record in technology investing, having invested US$15.4 billion in 48 companies across SaaS, cybersecurity, digital commerce, fintech and online marketplaces. Click below to download the full release. We believe Zendesk is uniquely positioned to enable meaningful interactions and deliver compelling business outcomes across any channel, said Ryan Lanpher, Partner at Permira. During this period, we also worked constructively with major shareholders. Its intuitive yet powerful offering serves over 100,000 companies, ranging from the smallest businesses to the largest enterprises, added Stephen Ensley, Partner at Hellman & Friedman. The firm is currently investing its tenth fund, with $24.4 billion of committed capital, and has over $85 billion in assets under management as of March 31, 2022. Julie Rudnick +1 347-563-8203, Zendesk, Inc.- 989 Market St. - San Francisco - CA 94103 - USA, Zendesk to Be Acquired by Investor Group Led by Hellman & Friedman and Permira for $10.2 Billion. This communication includes information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Symbol Announced Date Acquiring Company Closing Price Last Price Closing Date Profit Annualized Profit TWTR 04/25/2022 Elon Musk (N/A) $54.20 $39.41 12/31/2022 37.53% 72.86% SIMO 05/05/2022 MaxLinear, Inc. (MXL) $107.07 $81.71 06/30/2023 31.04% 30.70% BKI 05/04/2022 Intercontinental Exchange, Inc. (ICE) $85.00 $66.21 06/30/2023 28.38% 28.07% ATVI 01/18/2022 Microsoft Corporation (MSFT) $95.00 $77.94 06/30/2023 21.89% 21.65% VMW 05/26/2022 Broadcom Inc. (AVGO) $142.50 $117.96 04/30/2023 20.80% 24.65% TEN 02/23/2022 Apollo Global Management, Inc. (APO) $20.00 $16.7 12/31/2022 19.76% 38.36% NLSN 03/29/2022 Evergreen Coast Capital Corporation (N/A) $28.00 $23.53 12/31/2022 19.00% 36.88% VG 11/22/2021 Ericsson (ERIC) $21.00 $17.68 08/22/2022 18.78% 120.25% CHNG 01/06/2021 UnitedHealth Group Incorporated (UNH) $27.75 $23.66 12/31/2022 17.29% 33.56% MBII 03/16/2022 Bioceres Crop Solutions Corp. (BIOX) $1.14 $0.977 09/30/2022 16.73% 63.62%. The acquisition of Zendesk (ZEN) by Permira and Hellman & Friedman for $10.2 billion or $77.5 per share in cash. On April 18, 2022, Bloomberg reported thatZendeskis exploring a potential sale. +44 207 9594037 Building Value. The proposed transaction will be submitted to Zendesks stockholders for their consideration. that need to be accounted for when looking at these spreads. Permira is a global investment firm that backs successful businesses with growth ambitions. For more information, visit www.permira.com or follow the company on LinkedIn or Twitter. The Premium service includes both content and a plethora of tools including our popular Merger Arbitrage Tool and various custom screeners like the Spinsider and The Double Dipper. James Williams [emailprotected] Under the terms of this agreement, Zendesk shareholders will receive $77.50 per share. The transaction, which has been unanimously approved by Zendesks Board of Directors, is expected to close in the fourth quarter of this year and is subject to customary closing conditions, including Zendesk stockholder approval. The proposed transaction will be submitted to Zendesks stockholders for their consideration. Upon closing of the transaction, Zendesk will operate as a privately-held company. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation and collaborative partnership approach enable companies to flourish. CapitalG, a sister company to Google and subsidiary of Alphabet Inc., became an equity investor in Renaissance in 2014. Since its inception in 1984, Advent has invested $56 billion in private equity capital and, through its buyout programs, has FGS Global This communication is not a substitute for the Proxy Statement or for any other document that Zendesk may file with the SEC and send to its stockholders in connection with the proposed transaction. Get limited access to our industry news, analysis and data, plus regular email updates. Learn more at www.zendesk.com . Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on a limited number of large-scale equity investments in high quality growth businesses. Zendesk has reimagined customer service software and empowers businesses to transform how they communicate with their customers in an increasingly digital world. These statements include those set forth above relating to the proposed transaction as well as those that may be identified by words such as will, intend, expect, anticipate, should, could and similar expressions. Over the past 15 years, Zendesk has revolutionized how companies serve their customers and has become a leading platform within the customer experience ecosystem. Driving long-term value creation. The Permira funds have an extensive track record in technology investing, having invested US$15.4 billion in 48 companies across SaaS, cybersecurity, digital commerce, fintech and online marketplaces. Now its been sold to an investor group led by Permira and Hellman & Friedman. Jana was apoplectic, announcing earlier this month an intention to sue Zendesk. Factors leading thereto may include, without limitation, the risks related to Ukraine conflict or the COVID-19 pandemic on the global economy and financial markets; the uncertainties relating to the impact of the Ukraine conflict or the COVID-19 pandemic on Zendesks business; economic or other conditions in the markets Zendesk is engaged in; impacts of actions and behaviors of customers, suppliers and competitors; technological developments, as well as legal and regulatory rules and processes affecting Zendesks business; the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction that could reduce anticipated benefits or cause the parties to abandon the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into pursuant to the proposed transaction; the possibility that Zendesk stockholders may not approve the proposed transaction; the risk that the parties to the merger agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the proposed transaction; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Zendesks common stock; the risk of any unexpected costs or expenses resulting from the proposed transaction; the risk of any litigation relating to the proposed transaction; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Zendesk to retain customers and retain and hire key personnel and maintain relationships with customers, suppliers, employees, stockholders and other business relationships and on its operating results and business generally; the risk the pending proposed transaction could distract management of Zendesk; and other specific risk factors that are outlined in Zendesks disclosure filings and materials, which you can find on www.zendesk.com, such as its 10-K, 10-Q and 8-K reports that have been filed with the SEC. A global team bound by a distinct culture. All rights reserved. In addition to Hellman & Friedman and Permira, the investor group includes a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and GIC. Kirkland & Ellis LLP is serving as counsel to Hellman & Friedman. 2. Megan Bouchier +1 415-595-0651 Hellman & Friedman: San Francisco, Vereinigte Staaten: $26.900 12 2 5 1 Texas Pacific Group: Fort Worth, Vereinigte Staaten: $25.661 13 7 11 16 EnCap Investments: Houston, Vereinigte Staaten: $21.097 14 11 48 59 Vista Equity Partners: San Francisco, Vereinigte Staaten: $19.785 15 34 51 West 52nd Street, New York, NY 10019 t. 212.403.1000 or 800.848.0301 / Attorney Advertising and Other Notices. 10-Year Major Components Warranty (In Home) *Must accompany purchase of gas range shop now Zendesk, Inc. (NYSE: ZEN) today announced it has entered into a definitive agreement to be acquired by an investor group led by leading global investment firms Permira and Hellman & Friedman LLC (H&F) in an all-cash transaction that values Zendesk at approximately $10.2 billion. Previously, Mr. Ruder was an Associate with Hellman & Friedman LLC, where he was responsible for the identification, evaluation and execution of private equity transactions in a variety of industries, including information technology, professional services and infrastructure development. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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, said Mikkel Svane, founder, chairman and CEO, Zendesk. Winnie Lerner Zendesk to become a privately held company upon completion of the transaction. Zendesk's price at this point was $116.67. We look forward to partnering with Zendesks management team and talented employees to help them accelerate product innovation and achieve their growth ambitions, added Brian Ruder, Partner and Co-Head of Technology at Permira. Learn more at www.zendesk.com. Zendesk's price at the time of this announcement was $119.01 and it was the start of a saga that saw the Momentive deal scuttled and Zendesk finally ending up inking a deal to be acquired by an investor group led by Permira and Hellman & Friedman. +1 917-375-5652 Click here to learn more. We apply a thematic approach across two core asset classes - Private Equity and Credit - with a focus on growth in our four key sectors of expertise: Technology, Consumer, Healthcare and Services. Learn more at www.zendesk.com. On June 22, 2022,Sierra Oncology (SRRA) announced that thespecial meeting of stockholderswill be on June 29, 2022. You can find new SPAC IPO announcements inourSPACs tool here. But The Wall Street Journal reported last week that the two sides were in settlement talks, over a deal that would have involved Zendesk Chief Executive Officer Mikkel Svane stepping down. The table below shows weekly spread changes between June 17 and June 24, 2022. On April 18, 2022, Bloomberg reported that Zendesk. OR John Christiansen +1 415-618-8750 Shareholders to receive $77.50 per share in cash Zendesk to become a privately held company upon completion of the transaction Zendesk, Inc. (NYSE: ZEN) today announced it has entered into a definitive agreement to be acquired by an investor group led by leading global investment firms Permira and Hellman Friedman LLC (HF) in an all Factors leading thereto may include, without limitation, the risks related to Ukraine conflict or the COVID-19 pandemic on the global economy and financial markets; the uncertainties relating to the impact of the Ukraine conflict or the COVID-19 pandemic on Zendesks business; economic or other conditions in the markets Zendesk is engaged in; impacts of actions and behaviors of customers, suppliers and competitors; technological developments, as well as legal and regulatory rules and processes affecting Zendesks business; the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction that could reduce anticipated benefits or cause the parties to abandon the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into pursuant to the proposed transaction; the possibility that Zendesk stockholders may not approve the proposed transaction; the risk that the parties to the merger agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the proposed transaction; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Zendesks common stock; the risk of any unexpected costs or expenses resulting from the proposed transaction; the risk of any litigation relating to the proposed transaction; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Zendesk to retain customers and retain and hire key personnel and maintain relationships with customers, suppliers, employees, stockholders and other business relationships and on its operating results and business generally; the risk the pending proposed transaction could distract management of Zendesk; and other specific risk factors that are outlined in Zendesks disclosure filings and materials, which you can find on www.zendesk.com, such as its 10-K, 10-Q and 8-K reports that have been filed with the SEC. Web26,000 RETAILERS 26,000 retailers choose us because we never stop pushing our limits in the categories we lead. H&F targets outstanding businesses in select sectors including software & technology, financial services, healthcare, consumer & retail, and other business services. 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, said Mikkel Svane, founder, chairman and CEO, Zendesk. About Zendesk General Atlantic (also known as "GA") is an American growth equity firm providing capital and strategic support for global growth companies, headquartered in New York, United States. Zendesk, a software-as-a-service products provider, entered into a definitive agreement on October 28, 2021 to acquire Momentive (MNTV), the parent of SurveyMonkey. On June 20, 2022,Human Longevity, built by the pioneers of the human genome sequencing effort, and Freedom Acquisition I Corporation (FACT)signed a non-binding letter of intent for a proposed business combinationthat would result in HLI becoming a publicly listed company. It sells both cloud-based and hybrid cloud software. The acquisition of Zendesk by Permira and Hellman & Friedman for $10.2 billion or $77.5 per share in cash. We are confident that Hellman & Friedman and Permira will accelerate us into a new, positive chapter for our business. Winnie Lerner Newest. Zendesk to be acquired by an investor group led by investment firms Permira and Hellman & Friedman in an all-cash transaction valued at approximately $10.2 billion. ir@zendesk.com ir@zendesk.com, Zendesk Media Permira employs over 450 people in 16 offices across the United States, Europe and Asia. Hellman & Friedman and Permira-Led Investor Groups Acquisition of Zendesk June 29, 2022 Laura Testa Tagged: Aaron Bernstein Abhishek Kolay Abu Dhabi Investment Authority (ADIA) Alan Kaden Alanna Wolff Alex Kwon Amber Banks (Meek) Amir Ghavi Ana Nez Crdenas Andrea Gede-Lange Andrea Wahlquist Andrew Frank Anna Dimitrijevi? We classify some of these deals as "special situation" deals in our merger arbitrage tool and provide additional details to help with the analysis. Accelerating sustainable growth at scale. WebShop Direct for $1 . On February 16, 2022 Jana nominated four directors to Zendesk board, arguing the company must be rehabilitated after an unpopular attempt to buy Momentive Global. 3. Advisors With Hellman & Friedman and Permiras support, well 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., The Board conducted an extensive strategic review over a three month period, receiving an actionable offer from Hellman & Friedman and Permira after the termination of our formal process, said Carl Bass, lead independent director, Zendesk. Qatalyst Partners and Goldman Sachs & Co. LLC are serving as financial advisors to Zendesk in connection with the proposed transaction. In connection with the proposed transaction, Zendesk will file relevant materials with the U.S. Securities and Exchange Commission (the SEC), including Zendesks proxy statement on Schedule 14A (the Proxy Statement). With seven new deals announced, five active deals completed and eighteen deal updates, it was quite an active week on the M&A front. Since its founding in 1984, H&F has invested in over 100 companies. Zendesk (NYSE:ZEN), which agreed to be sold to Permira and Hellman & Friedman for $77.50/share in June, fell as much as 2.2% on what appeared to be no news. Zendesk started the customer experience revolution in 2007 by enabling any business around the world to take their customer service online. On February 28, 2022, we added Zendesk as a potential deal in the works, whenJANA Partners sent a letter to the board of Zendesk stating that it believed Zendeskrequired either significant board change, orin the absence of such change, should be sold after the failed Momentive deal. Reviving a buyout may seem a victory compared with that outcome, but it's a pyrrhic one.". Zendesks stockholders will be able to obtain a free copy of the Proxy Statement, as well as other filings containing information about Zendesk, without charge, at the SECs website (www.sec.gov). Our free, eight-year, academic program successfully educates and mentors underserved public high school students to and through college - with a 90% college graduation rate. A timeline of all the events that transpired since the Momentive deal was announced. The company was conceived in Copenhagen, Denmark, built and grown in California, taken public in New York City, and today employs more than 6,000 people across the world. Zendesk started the customer experience revolution in 2007 by enabling any business around the world to take their customer service online. Simpson Thacher & Bartlett LLP is serving as financing counsel to the investor group. Fried, Frank, Harris, Shriver & Jacobson LLP is serving as M&A counsel to the investor group and to Permira. According to an article by The Wall Street Journal: "Zendesk stalled for time by dragging its feet on setting an annual meeting. Gainesville, Texas, United States. Michael Vi/iStock Editorial via Getty Images. I wrote this article myself, and it expresses my own opinions. (Credit: Tumisu/Pixabay) Zendesk has agreed to be acquired by an investor consortium led by Permira and Hellman & Friedman (H&F) in an all-cash deal that values the company at around $10.2bn. According to the merger agreement, the termination fee to be paid by Zendesk, if it terminates the agreement, will be $254 million and the termination fee to be paid by the investor group in case they terminate the agreement, will be $610 million. The acquisition of Zendesk(ZEN) by Permira and Hellman & Friedman for $10.2 billion or $77.5 per share in cash. GAAP net loss for the quarter was $59.1 million, including costs for the pending acquisition by Hellman & Friedman Advisors LLC and Permira Advisers LLC. Jason Tsai, +1 415-997-8882 Two of these seven new deals were over $1 billion in size and one of them was a potential deal in the works that went through a rather unusual roller coaster process as outlined below. Permira is a global investment firm that backs successful businesses with growth ambitions. On June 24, 2022,Entegris (ENTG) and CMC Materials (CCMP) announced that Chinas State Administration for Market Regulationhas given antitrust clearancefor Entegris previously announced acquisition of CMC Materials. Spread business and personal On June 24, 2022, Zendesk entered into a definitive agreement to be acquired by an investor group led by investment firms Permira and Hellman & Friedman in an all-cash transaction valued at approximately $10.2 billion or $77.50 per share in cash, representing a premium of approximately 34% over Zendesk's closing stock price on June 23, 2022. Looking for more investing ideas like this one? About Hellman & Friedman Zendesk and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. The acquisition ofTrecora Resources (TREC) byBalmoral Funds on June 24, 2022. In 2021, the top 10 CRM software vendors accounted for nearly 59.4% of the global CRM applications market which grew 15.7% to approach nearly $52.8 billion in license, maintenance and subscription revenues.. Last year Salesforce led the pack with a 31.3% market share riding on a 12.6% jump in CRM revenues. Please consult these documents for a more complete understanding of these risks and uncertainties. james.williams@permira.com This is Hellman & Friedmans 10th and Permiras 15th transaction in the Internet Software and Services sector. Zendesk Media Contacts: On June 20, 2022, The Wall Street Journal reported that JetBlue Airways (JBLU)is continuing its quest to buy Spirit Airlines (SAVE)by increasing its offerto $33.50 in cash per Spirit share and strengthening its commitment to divest itself of assets to get regulatory approval for the deal. The Premium service includes a monthly special situations newsletter, a model portfolio and mid-month updates. Genesys (www.genesys.com), the market leader in omnichannel customer experience and contact center solutions, today announced that affiliates of Hellman & Friedman LLC, a leading private equity investment firm, will make an approximately $900 million investment to acquire a substantial equity stake in the company from existing equity holders. Julie Rudnick +1 347-563-8203, Internet Explorer presents a security risk. We classify some of these deals as "special situation" deals in our merger arbitrage tool and provide additional details to help with the analysis. Before making any voting decision, Zendesks stockholders are urged to read all relevant documents filed or to be filed with the SEC, including the Proxy Statement, as well as any amendments or supplements to those documents, when they become available because they will contain important information about the proposed transaction. Blackstone Inc. is an American alternative investment management company based in New York City.Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Founded in 1985, the firm advises funds with total assets under management of US$65bn+ and makes long-term majority and minority investments across two core asset classes, private equity and credit. This transaction provides certainty of value for our shareholders at a significant premium to Zendesks trading price. Since its founding in 1984, H&F has invested in over 100 companies. Some of these large spreads might be related to regulatory issues or because of the way the deal is structured. In June, private equity firm Hellman & Friedman and Permira and other investors agreed to buy Zendesk for $10.2 billion and take it private. +44 207 9594037 The firm focuses on international buyouts, growth and strategic restructuring in five core sectors. Zendesk Investor Analyzed hundreds of appraisals of land, residential, and commercial property. Such forward-looking statements only speak as of the date of these materials, and Zendesk assumes no obligation to update any written or oral forward-looking statement made by Zendesk or on its behalf as a result of new information, future events or other factors, except as required by law. [emailprotected] Zendesks stockholders will be able to obtain a free copy of the Proxy Statement, as well as other filings containing information about Zendesk, without charge, at the SECs website (www.sec.gov). In June, private equity firm Hellman & Friedman and Permira and other investors agreed to buy Zendesk for $10.2 billion and take it private. The price that Zendesk finally settled for was 40% below the midpoint of the original offer made by the same group of investors in February. A values-based approach and a deep commitment to ESG guide our thinking. Morgan Stanley & Co. LLC is serving as financial advisor to the investor group. Upon closing of the transaction, Zendesk will operate as a privately-held company. Teradata. During this period, we also worked constructively with major shareholders. Hellman & Friedman and Permira have arranged for debt and equity financing commitments for the purpose of financing the transaction. Hellman & Friedman LLC, Permira $10,200 03/21/22 Anaplan, Inc. Thoma Bravo, LLC $9,796 08/08/22 Avalara, Inc. Vista Equity Partners $8,248 04/07/22 CDK Global Brookfield Asset Management, Inc. $8,198 2022 Aggregate Transaction Value $377,551 Top 10 Aggregate Transaction Value $240,470 Top 10 Aggregate Value as a Percentage of All Transactions 64 % Such forward-looking statements only speak as of the date of these materials, and Zendesk assumes no obligation to update any written or oral forward-looking statement made by Zendesk or on its behalf as a result of new information, future events or other factors, except as required by law. The week started withJetBlue Airways (JBLU) increasing its offer forSpirit Airlines (SAVE) and ended withFrontier Group Holdings (ULCC) amending its original offer for Spirit by increasing it by $2 per share and offering an unusual $2.22 per share special dividend that would be paid in advance of deal closing. Achievers announced Achievers for Viva Connections, an integration that enables users of Microsoft Teams to realize the full benefits of the Achievers platform. In connection with the proposed transaction, Zendesk will file relevant materials with the U.S. Securities and Exchange Commission (the SEC), including Zendesks proxy statement on Schedule 14A (the Proxy Statement). We're committed partners to management teams and entrepreneurs, helping drive growth at scale and long-term value creation across four core sectors. Today, Zendesk is the champion of great service everywhere for everyone, and powers billions of conversations, connecting more than 100,000 brands with hundreds of millions of customers over telephony, chat, email, messaging, social channels, communities, review sites and help centers. james.williams@permira.com Permira employs over 450 people in 16 offices across the United States, Europe and Asia. With Hellman & Friedman and Permiras support, well 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., The Board conducted an extensive strategic review over a three month period, receiving an actionable offer from Hellman & Friedman and Permira after the termination of our formal process, said Carl Bass, lead independent director, Zendesk. On June 14, 2022, The Wall Street Journal reported that Zendesk was in talks to settle with Jana Partners, which could involve Mikkel Svane stepping down as chief executive and some changes to the board. But The Wall Street Journal reported last week that the two sides were in settlement talks, over a deal that would have involved Zendesk Chief Executive OfficerMikkel Svanestepping down. The proposed transaction will be submitted to Zendesks stockholders for their consideration. Investment firms Permira and Hellman & Friedman are acquiring Zendesk for $10.2 billion, or $77.5 per share. The company was publicly traded until October 2011, when Permira purchased all outstanding shares and maintained ownership of Renaissance until selling the company in 2014 to Hellman & Friedman for $1.1 billion. The transaction, which has been unanimously approved by Zendesks Board of Directors, is expected to close in the fourth quarter of this year and is subject to customary closing conditions, including Zendesk stockholder approval. Nina Suter On June 24, 2022, shareholders of Cornerstone Building Brands (CNR)approved the companys mergerwith Clayton, Dubilier & Rice at a special meeting of shareholders. Catalyst Dynamic story: Zendesk Outlines Superior Value Provided by Proposed Transaction with Consortium Led by Hellman Friedman and Permira - Marketscreener.com and other headlines for Catalyst Dynamic Alpha Morgan Stanley & Co. LLC is serving as financial advisor to the investor group. My work has been mentioned in Barron's, Dow Jones, BNN Bloomberg and other publications. Mar 9, 2017, 1:46 pm. This communication relates to the proposed transaction involving Zendesk, Inc. (Zendesk). Stephanie Barnes, +1 415-722-0883 It took 73 days for this deal to be completed. Clayton, Dubilier & Rice is an American private equity company. Please. On June 24, 2022,Spirit Airlines (SAVE) and Frontier Group Holdings (ULCC)entered into Amendment No. Free copies of the Proxy Statement and such other materials may be obtained as described in the preceding paragraph. On June 23, 2022,Rogers Communications (RCI) and Shaw Communications (SJR) confirmed to Canada's Competition Tribunal that they willseek mediationon their planned C$26B merger, with questions continuing to center on Shaw's wireless business. Simpson Thacher & Bartlett LLP is serving as financing counsel to the investor group. North America, Europe and Asia the latest versions of team of 450+ individuals across 16 offices around the to, BNN Bloomberg and other Notices to grow at scale Ping Identity, and it encouraging Via Getty Images than a decade i have been writing every week about M & a and insider Transaction, Zendesk saidit would continue as an independent public companyafter the software firm a Their customers in an all stock deal model portfolio and mid-month updates June 24, 2022, BlueCity Holdings (. Zendesk has reimagined customer service online hearing on both the other Notices on core. 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