Zendesk, a customer experience software business, revealed on Friday that it has agreed to be purchased by an investor group in an all-cash transaction valued at roughly $10.2 billion.
According to the statement, the acquisition, led by investment companies Permira and Hellman & Friedman, will pay shareholders $77.50 per share, a premium of nearly 34% over the company’s closing stock price on Thursday.
During premarket trade, shares were up roughly 30%.
Once the transaction is completed, the investment firms intend to take Zendesk private.
A wholly-owned subsidiary of the Abu Dhabi Investment Authority and GIC are also among the investors.
Zendesk’s board of directors unanimously authorized the transaction, which is expected to finalize in the fourth quarter of this year.