Zendesk Close to Striking Buyout Deal With Group Including Hellman & Friedman and Permira, Sources Say

Zendesk is close to striking buyout deal with group including Hellman & Friedman and Permira, sources close to the deal say.



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David Paul Morris/Bloomberg News

Zendesk Inc.

is close to a deal with a group of buyout firms, according to people familiar with the matter, resurrecting a failed attempt to sell itself in what would be one of the biggest private-equity takeovers of the year.

A deal with a group that includes Hellman & Friedman LLC and Permira could be struck in the coming days assuming the talks don’t fall apart, the people said. The price couldn’t be learned.

Zendesk, which has a market value of about $7 billion, had been expected to strike a settlement agreement with activist investor Jana Partners LLC days after the company ended a bid to sell itself in a private-equity auction, The Wall Street Journal reported last week.

Zendesk and Jana were discussing a truce that could involve

Mikkel Svane

stepping down as the software company’s chief executive, as well as changes to the board including the removal of director

Carl Bass.

It is not clear where Zendesk’s discussions with Jana stand in light of the expected buyout deal.

MORE TO COME

Write to Laura Cooper at [email protected] and Cara Lombardo at [email protected]

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