(UPDATE – February 25th, 2022: Zendesk announced that it had terminated its plan to acquire Momentive Global Inc. after not receiving approval from its stockholders. The company announced the update during a Stockholder Meeting on February 25th. The original story from November 4th, 2021, is below.)
Zendesk has announced its plans to acquire Momentive and its SurveyMonkey platform. According to the terms of the deal, Momentive stockholders will receive 0.225 shares of Zendesk stock for each share of Momentive stock. Zendesk expects the acquisition to be growth accretive by 2023 and will accelerate its revenue plan to approximately $3.5 billion by 2024. The transaction is expected to close in the first half of 2022 and will result in Zendesk stockholders owning 78% of the combined company, with Momentive stockholders holding the remaining 22%.
Zendesk provides its customers with a customer experience platform built around the needs of sales and customer service teams. With sales automation software, pipeline visualization and management tools, mobile access, lead management, and reporting capabilities, Zendesk is a good fit for startups, SMB, and enterprise companies that prioritize sales pipeline development and progression.
By acquiring Momentive, Zendesk will expand its platform to provide businesses with the customer intelligence solution they need to connect with customers. The acquisition will help Zendesk customers collect customer needs, expectations, and experience data, combine transactional data with broader market research and ultimately help users improve customer interactions.
Mikkel Svane, the CEO and Founder of Zendesk, says, “The SurveyMonkey brand is iconic, and we’ve admired their business from afar since the inception of Zendesk. They truly democratized an industry—almost everyone in the world has responded to one of their surveys at some point. We’re very excited to have them join the Zendesk mission along with Momentive’s market research and insights products and together create a powerful new Customer Intelligence company. We will deliver a rich, colorful picture of every customer so businesses really understand their customers and can build more authentic relationships.”
Learn more about Zendesk.