Zendesk Acquires Momentive
Zendesk has acquired Momentive and its iconic SurveyMonkey platform in a stock transaction worth about $4 billion.
The acquisition gives Zendesk a larger share of the expanding customer analytics and voice of the customer markets, creating what it calls "a customer intelligence company that connects what customers say and do with how they think and feel."
Momentive, which changed its name from SurveyMonkey in June, offers cloud-based software for market research; surveys, customer and employee feedback; and a suite of back-end applications that make sense of the data.
SurveyMonkey was founded in 1999 and over the years acquired a number of similar businesses, including Zoomerang, Fluidware, TechValidate, Usabilla, GetFeedback, and a share of Clicktools.
"The SurveyMonkey brand is iconic, and we've admired their business from afar since the inception of Zendesk. They truly democratized an industry. Almost everyone in the world has responded to one of their surveys at some point," said Mikkel Svane, CEO and founder of Zendesk, in a statement. "We're very excited to have them join the Zendesk mission along with Momentive's market research and insights products and together create a powerful new customer intelligence company. We will deliver a rich, colorful picture of every customer so businesses really understand their customers and can build more authentic relationships."
Zendesk, which was founded in Denmark in 2007, said in a statement that the combined company will offer products to help companies "collect critical information about customer needs, experiences and expectations; bring a customer into focus by combining transactional data with market research and insights for the context to truly understand them; and empower teams to take action with the full breadth of data about their customers as well as feedback and market insights to improve customer interactions."
"We look forward to combining with Zendesk to advance our mission and accelerate our long-term growth strategy," said Zander Lurie, CEO of Momentive, in a statement. "This is a testament to the strength of our agile products and talented team. Zendesk and Momentive share a culture centered around our people, our communities, and the customers we serve. The synergies between our companies are proximate and compelling. We are uniquely positioned to make customer intelligence a reality ??while delivering significant value for our shareholders."
The Momentive acquisition comes just two months after Zendesk acquired Cleverly, a provider of artificial intelligence-powered customer support solutions with insight-driven automation.
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Momentive will continue to operate under its current brand after its acquisition by STG.