Zendesk Terminates Momentive Merger

Zendesk has terminated its planned acquisition of Momentive after it did not receive the approval of its stockholders.

Zendesk in October announced its plans to acquire Momentive and its iconic SurveyMonkey platform in a stock transaction worth about $4 billion.

"While we were excited by the potential of this transaction to transform the customer experience and create stockholder value, we respect and appreciate the perspectives of our stockholders," said Mikkel Svane, CEO and founder of Zendesk, in a statement. Our board and management team remain laser-focused on our strategy and execution. Zendesk's business has never been stronger, with accelerated revenue growth of 30 percent to $1.34 billion in revenue in 2021 and a clear path to generating $3.4 billion in revenue by 2025.”

"Zendesk's mission is to simplify the complexity of business and make it easier for companies and customers to create connections. We remain focused on accelerating our rapid growth in the enterprise, continuing to lead the market with easy-to-use and innovative products and, importantly, unlocking opportunities to create value for customers by empowering them with rich, multi-dimensional customer intelligence," Svane added.

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