Zendesk buys SurveyMonkey for $4 billion

Software services company Zendesk revealed that it would buy Momentive Global, owner of the popular SurveyMonkey platform for nearly $4 billion in an all-stock deal.
zendesk-morten-primdahlZendesk, a customer service software vendor, has faced tailwinds during the pandemic as its enterprise customers accelerate digital transformation.

This will be Zendesk’s biggest acquisition.

“We have a big overlap in customers. It’s incredibly powerful. It will create a whole new, richer picture of your customers,” Mikkel Svane, chief executive at Zendesk told investors on Thursday.

The deal is expected to close in the first half of 2022, pending approvals from Zendesk and Momentive shareholders.

Zendesk reported its revenue grew 32 percent to $347 million.

It expects the deal with Momentive to accelerate its revenue plan to $3.5 billion in 2024, one year ahead of its previous target.

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