Momentum (formerly SurveyMonkey) is a software company that develops solutions for managing experience and corporate analytics. SurveyMonkey works as a supporting platform for conducting surveys.
History
2021: Zendesk bought Momentum for $4.13 billion
On October 28, 2021, Zendesk announced the acquisition of Momentum for $4.13 billion. According to the press release, the buyer will receive a SurveyMonkey platform for conducting surveys, which will allow Zendesk customers to "build a more constructive relationship."
Under the terms of the transaction, Momentum shareholders will receive 0.225 Zendesk shares for each Momentum share, a coefficient that assumes a value of approximately $28 per Momentum share in circulation, based on a weighted average price for the 15-day volume of ordinary Zendesk shares until October 26, 2021 inclusive.
Subject to regulatory approval, the transaction is expected to be completed in the first half of next year. After its completion, Zendesk shareholders will own approximately 78% of the combined company, and Momentum shareholders - approximately 22%.
 | We are very pleased that they joined the Zendesk mission along with Momentum's market research and analytics products and together formed a new powerful customer analysis company. We will present a rich, colorful picture of each client so that companies really understand their customers and can build a more genuine relationship, "said Mikkel Svein, founder and CEO of Zendesk. |  |
Momentum CEO Zander Lurie will continue to lead Momentum's management team after the acquisition.
| | We look forward to joining with Zendesk to advance our mission and accelerate our long-term growth strategy, "Lurie said. | |
Zendesk shares fell 16% in the secondary market, while Momentum shares also fell nearly 9% to $22.70 per share.
According to Zendesk, this step will help the company achieve a revenue target of $3.5 billion in 2024, which is a year earlier than the previous goal.[1]
Notes
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