Zendesk close to striking buyout deal

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Zendesk close to striking buyout deal

Software company Zendesk Inc is close to a deal with a group of buyout firms that includes Hellman & Friedman and Permira, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

A deal could be struck in the coming days assuming the talks don't fall apart, according to the report

Zendesk's shares rose 41.5 percent to $81.98 after the bell.

The company, which has been under pressure from activist investor Jana Partners, said earlier in June it would continue as an independent public company after completing a review of its business.

Zendesk, Hellman & Friedman did not immediately respond to Reuters' requests for comment, while Permira declined to comment.

Zendesk is a service-first CRM company that builds software designed to improve customer relationships. It has more than 160,000 accounts, more than 5,000 global employees and offices in 160 countries. 

(Reporting by Akash Sriram in Bengaluru)


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