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Why Zendesk Shares Are Falling Today

Zendesk, Inc. (NYSE: ZEN) shares are trading lower after the company announced the board has unanimously determined it will continue to execute its strategic plan as an independent, public company following the company's comprehensive review of strategic a...

Benzinga · 06/09/2022 10:14

Zendesk, Inc. (NYSE:ZEN) shares are trading lower after the company announced the board has unanimously determined it will continue to execute its strategic plan as an independent, public company following the company's comprehensive review of strategic alternatives.

Zendesk's financial advisors conducted a comprehensive outreach to 26 potential counterparties, including 16 potential strategic partners and 10 financial sponsors.

"The Board and management team are committed to driving stockholder value, and we are grateful to our employees, customers, partners and investors for standing with us during this period," said Mikkel Svane, Founder, Chairman and CEO, Zendesk.

Zendesk provides a portfolio of customer engagement software solutions via single applications or the Sunshine suite.

Zendesk shares were trading about 9.1% lower at $73.14 per share on Thursday at the time of publication.