Yes, Zendesk went private on November 22, 2022. The company was acquired by a consortium of private equity firms led by Hellman & Friedman and Permira in an all-cash transaction that valued the company at approximately $10.2 billion. As part of the deal, Zendesk shareholders received $77.50 per share in cash.
The acquisition was the culmination of months of pressure from activist investor Jana Partners, which had been pushing for Zendesk to go private. Jana had argued that the company was undervalued as a public company and that it would be better off operating as a private company.
The acquisition of Zendesk is a sign of the growing trend of private equity firms acquiring technology companies. In recent years, private equity firms have acquired a number of high-profile technology companies, including GitHub, SurveyMonkey, and Slack.