Zendesk Announces Termination of Merger Agreement With Momentive

Zendesk, Inc. announced that it has terminated the Agreement and Plan of Merger by and among Zendesk, Milky Way Acquisition Corp., and Momentive Global Inc. , after it did not receive the approval of its stockholders to adopt the proposal to issue shares of Zendesk common stock in connection with the proposed transaction at the Stockholder Meeting held on February 25, 2022.

“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, Zendesk. “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% to $1.34 billion in revenue in 2021 and a clear path to generating $3.4 billion in revenue by 2025.”

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Zendesk’s performance in 2021 underscores the fundamental strength of its business and strategic approach. Zendesk’s percentage of its overall book of business represented by customer accounts with more than $250,000 in annual recurring revenue grew to 38 percent in 2021. Product-led growth reflected accelerating adoption of the Zendesk Suite, which launched in early 2021 and exceeded $500 million in annual recurring revenue.

“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,” said Svane.

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