 "M&As, Mergers and acquisitions")
Software as a service companies Zendesk and Momentive have entered into a definitive agreement under which Zendesk will acquire Momentive, including its SurveyMonkey platform. News agency Reuters reported the deal value to be at $4 billion. An email sent to Zendesk regarding the same did not elicit a response till the time of publishing.
Zendesk’s market capitalisation as of October 29 is $14.3 billion whereas that of Momentive is $3.62 billion.
Zendesk expects the combination to be growth accretive in its first full operating year and accelerate its revenue plan to $3.5 billion in 2024, one year ahead of its previous target.
