At what enterprise value was ZENDESK acquired in 2022?

During the acquisition of ZENDESK by HELLMAN & FRIEDMAN / PERMIRA in 2022, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b USD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of ZENDESK when it was acquired by HELLMAN & FRIEDMAN / PERMIRA?

The exact EV/EBITDA multiple for ZENDESK is available on mynth capital. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

When was ZENDESK acquired by HELLMAN & FRIEDMAN / PERMIRA?

ZENDESK was acquired by HELLMAN & FRIEDMAN / PERMIRA in 2022.

What was the revenue of ZENDESK at the time of the deal?

The revenue of ZENDESK at the time of the deal is estimated to be in the range of 1b - 3b USD. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the ZENDESK acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ZENDESK deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.permira.com/news-and-insights/announcements/zendesk-to-be-acquired-by-investor-group-led-by-hellman-friedman-and-permira-for-102-billion

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Home Database TMT (Tech, Media, Telecom)ZENDESK

06/2022

ZENDESK acquired by HELLMAN & FRIEDMAN & PERMIRA

UNITED STATES Software / CRM & Sales EV 3b - 100b USD

Context

Zendesk has been acquired by an investor group led by Hellman & Friedman and Permira. The agreement was signed in June 2022 and will take the company private, ending its listing on the New York Stock Exchange. The transaction follows a three‑month strategic review conducted by Zendesk’s board, during which the company evaluated standalone and transactional alternatives. The investor group presented a definitive agreement that received unanimous board approval and is expected to close later in 2022, subject to customary regulatory approvals. The deal is structured as an all‑cash purchase of all outstanding shares, funded through a combination of equity contributions from the two firms and senior debt facilities arranged with major banks. The buyers view Zendesk’s subscription‑based platform as a scalable asset positioned to benefit from rising demand for cloud‑native customer engagement solutions. Their investment thesis centers on accelerating product innovation, expanding the addressable market in Europe and APAC, and leveraging cross‑portfolio synergies with other software holdings. By providing additional capital and strategic guidance, the consortium aims to deepen the company’s AI capabilities, broaden its integration ecosystem and pursue targeted bolt‑on acquisitions to enhance functionality. The investors also plan to capitalize on Zendesk’s existing partner network to accelerate channel expansion and to standardize pricing models across regions. Post‑closing, Zendesk is expected to operate under a private ownership structure that allows longer‑term planning horizons and reduced public‑market reporting constraints. Management will retain operational control while collaborating with the investors on growth initiatives, including expanding the sales organization and increasing research and development spend. The anticipated result is higher recurring revenue growth, improved gross margins through economies of scale, and a stronger competitive position within the global customer experience market. In addition, the private structure is expected to enable more aggressive pricing strategies and flexible contract terms, which should improve customer retention and lifetime value.

ZENDESK, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Zendesk, Inc. is a publicly listed provider of cloud‑based customer experience software headquartered in San Francisco. Founded in 2007, the company developed a suite of applications that enable organizations to manage inbound support requests, conduct live chat, operate voice centers, and maintain self‑service knowledge bases across web, mobile and social channels. Its platform incorporates ticketing workflow automation, AI‑driven routing, analytics dashboards and integration points with major CRM, e‑commerce and productivity tools. Zendesk licenses its software on a subscription basis, offering tiered plans that scale from small businesses to large enterprises. The firm serves more than 100,000 customers in sectors such as technology, retail, financial services, healthcare and travel, delivering services to end‑users in over 190 countries. Revenue is generated primarily through recurring SaaS fees, supplemented by professional services and support add‑ons. The company operates data centers in North America, Europe and Asia‑Pacific to ensure regional compliance and low‑latency access.

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REFERENCES

Valuation range: EV 3b - 100b USD

Revenue range: 1b - 3b USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ZENDESK by HELLMAN & FRIEDMAN / PERMIRA are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: zendesk

Acquirer: permira / hellman & friedman