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Zendesk confirms cut-price $10.2B buyout

Customer service software company Zendesk has announced it will be acquired for $10.2 billion by a group of investors led by private equity firm Hellman & Friedman and investment company Permira, as well as a wholly-owned subsidiary of the Abu Dhabi Investment Authority and GIC, a sovereign wealth fund from Singapore.

The acquisition caps a tumultuous year for the Californian company and comes just two weeks after announcing that it would remain a “public, independent company”.

In February this year, Zendesk’s board of directors rejected an acquisition proposal of $17 billion from a consortium of private equity firms, saying that it “significantly undervalues” the company.

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Source:: Computerworld