Reliable sources told Reuters that Zendesk is negotiating a possible buyout with private investors. The deal appears to be closing in.

Two weeks back, Zendesk told shareholders that it planned to remain independent. Meanwhile, the CRM provider appears to be in talks with two private investment companies: Hellman & Friedman and Permira. Reliable sources told Reuters that the buyout is closing in. Zendesk’s value is estimated at 7 billion dollars (6.6 billion euros). All companies refrained from commenting.

Shareholder pressure

The future of Zendesk has been in turmoil for some time. After a failed acquisition of survey specialist Momentive, the management came under pressure from shareholder Jana Partners. According to the shareholder, Zendesk’s management was ignorant of market circumstances. Shareholder confidence dropped significantly.

In response, the CRM provider had itself investigated by financial and legal advisers. Zendesk attempted to determine the best course of action. The investigation nudged the company to remain independent, which now appears to have taken a different turn.