ZEN - ZEN STOCK NEWS

Zendesk, Inc. (NYSE: ZEN) will release its financial results for Q2 2022 on July 28, 2022, after U.S. market close. Due to a merger agreement with an investor group led by Hellman & Friedman and Permira, Zendesk will not hold an earnings conference call. Future material information regarding the transaction will be shared in subsequent press releases or SEC filings.

Zendesk, founded in 2007, has transformed customer service, connecting over 100,000 brands with hundreds of millions of customers across various communication channels.

Zendesk (ZEN) has announced a definitive agreement for acquisition by an investor group led by Permira and Hellman & Friedman in an all-cash deal valued at approximately $10.2 billion. Shareholders will receive $77.50 per share, representing a 34% premium over the last trading price on June 23, 2022. The transaction is expected to close in the fourth quarter of this year, pending stockholder approval. This strategic move aims to enhance Zendesk's growth trajectory in the customer service software market.

Zendesk, Inc. (NYSE: ZEN) announced the completion of a strategic review, determining that continuing as an independent company is best for stockholder value. Despite outreach to 26 potential buyers, adverse market conditions led to no actionable proposals. Zendesk reported a 40% compounded revenue CAGR since its IPO and remains committed to its growth strategy, focusing on enhancing customer service and leveraging its brand to attract enterprise clients. The 2022 Annual Meeting of Stockholders is scheduled for August 17, 2022.

Zendesk's stock price has reached a 52-week low, reflecting a significant loss of shareholder confidence. JANA Partners LLC intends to sue Zendesk for failing to set a date for its 2022 annual meeting, violating Delaware law. Their analysis indicates the company's board has inadequately managed shareholder interests, particularly regarding failed sale processes and a rejected acquisition. JANA has nominated four independent directors, emphasizing the need for governance reforms to restore trust and value for shareholders.

Zendesk, NYSE:ZEN, announced its participation in upcoming investor conferences, including the JP Morgan Global Technology Conference on May 24, 2022, and the Cowen TMT Conference on June 1, 2022. Presenters will include CFO Shelagh Glaser and Head of Investor Relations Jason Tsai. Other conferences include the Jefferies Software Conference on June 2 and the Bank of America Global Tech Conference on June 7. Each presentation will be available via live webcast on Zendesk's investor website.

Zendesk (NYSE: ZEN) recently announced new solutions at its Relate conference aimed at enhancing customer relationship management and employee experience. The innovations focus on Conversational CRM, integrating front and back office operations for better customer engagement. Key features include automated bots for messaging apps, omnichannel routing, and analytics to convert conversations into revenue. Additionally, Zendesk introduced an employee experience offering to streamline operations and improve hybrid work environments.

Transcend has appointed Mike Orlick as Vice President of Sales, enhancing its leadership to address growing privacy challenges for businesses. With over 15 years in sales, Orlick previously excelled at WalkMe and Zendesk. He aims to drive customer adoption amidst increasing privacy regulations. Additionally, Richard Alfonsi, former executive from Stripe, Twitter, and Google, joins as a Strategic Advisor, bringing expertise in fast-growing tech firms. This strategic move positions Transcend to better serve clients in navigating privacy complexities.

JANA Partners LLC criticizes Zendesk (NYSE: ZEN) for its ongoing failure to set an annual meeting date, citing breaches of Delaware law. The company's last annual meeting occurred on May 18, 2021, with delays now jeopardizing shareholder rights. JANA emphasizes the need for accountability among the board members, especially following the rejected Momentive acquisition. The managing partner, Barry Rosenstein, asserts that without significant board changes to restore credibility, Zendesk should consider a sale.

Zendesk reported a 30% increase in Q1 revenue, reaching $388.3 million compared to the previous year. However, the company faced a GAAP net loss of $66.9 million, translating to a net loss per share of $0.55. Despite these challenges, non-GAAP operating income stood at $20.2 million. For Q2 2022, Zendesk forecasts revenue between $402 - 408 million but expects a GAAP operating loss between $(65) - (59) million. Overall, the company anticipates 2022 revenue of $1.685 - 1.710 billion.