Zendesk set to acquire Momentive and SurveyMonkey platform

Zendesk and Momentive have entered into a definitive agreement under which it will acquire Momentive and the SurveyMonkey platform.

The terms of the transaction provide for Momentive stockholders to receive 0.225 shares of Zendesk stock for each share of Momentive stock. A ratio which represents an implied value of approximately $28 per outstanding share of Momentive stock.

Zendesk stockholders will own approximately 78% of the combined company and Momentive stockholders will own approximately 22% of the combined company.

The acquisition is set to close in the first half of 2022, is subject to approval by the stockholders, the receipt of required regulatory approvals, and other customary closing conditions. The transaction is intended to qualify as a tax-free reorganization for U.S. federal income tax purposes.

“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,” Mikkel Svane, CEO & Founder, Zendesk, said.

Zendesk will reinvest savings from improve efficiencies into growth opportunities. After the acquisition, Momentive CEO Zander Lurie will continue to lead the management team.

Additional details and information about the terms and conditions of the transaction will be available in Current Reports on Form 8-K to be filed by Zendesk and Momentive with the Securities and Exchange Commission.