Zendesk working with Qatalyst on its potential sale – source
By Krystal Hu
(Reuters) – Software program firm Zendesk Inc has employed advisory agency Qatalyst Companions to discover a possible sale, a supply aware of the matter informed Reuters on Monday.
Zendesk declined to remark and Qatalyst didn’t instantly reply to a Reuters’ request for touch upon the event first reported by Bloomberg Information earlier within the day.
In February, Zendesk mentioned it had rejected an acquisition provide from a consortium of personal fairness corporations for as a lot $16 billion.
Zendesk’s buyers rejected a proposed takeover of SurveyMonkey mum or dad Momentive International in February, terminating the merger settlement.
The deal, valued at roughly $4 billion, had been roundly criticized by distinguished buyers together with state pension funds and enormous mutual funds, which questioned its rationale and mentioned it will seemingly be too dangerous.
The corporate can also be below strain from activist funding agency Jana Companions, which launched a proxy battle at Zendesk and nominated 4 director candidates. New York-based Jana argued that the corporate must be rehabilitated after its unpopular try to purchase Momentive International.
(Reporting by Krystal Hu in New York and Jaiveer Singh Shekhawat in Bengaluru; Extra reporting by Tiyashi Dutta in Bengaluru; Modifying by Rashmi Aich)
