M&A · Tech · Services-Computer Programming, Data Processing, Etc.
Zendesk, Inc. to acquire Momentive Global Inc.
Announced Oct 28, 2021 · Terminated Feb 28, 2022
Deal value$4.13BEV $4.06B
Premium—To unaffected price
EV / Adj. EBITDA—9.9x EV / Revenue
ConsiderationAll stock$28.00 per share
Transaction
- Acquirer
- Zendesk, Inc. (ZEN)
- Target
- Momentive Global Inc. (MNTV)
- Buyer type
- Strategic
- Offer price per share
- $28.00
- Enterprise value
- $4.06B
- Status
- Terminated Feb 28, 2022
Deal protections
- Break fee (target pays)
- $150M · 3.6%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Goldman Sachs, Centerview
- To the target
- Allen & Company, JPMorgan
Sector context · Tech
- Comparable deals
- 43 in the prior 24 months
- Premium
- Sector median 30.8%
- EV / Adj. EBITDA
- Sector median 18.1x
- Break fee
- 3.6% vs. 3.0% sector median
Timeline
- AnnouncedOct 28, 2021
- Proxy filedJan 7, 2022
- Definitive proxyJan 7, 2022
- Shareholder voteFeb 25, 2022
- TerminatedFeb 28, 2022