M&A Deal Summary

Zendesk Acquires Ultimate

On March 14, 2024, Zendesk acquired internet software and services company Ultimate from Tesi

Acquisition Highlights
  • This is Zendesk’s 5th transaction in the Internet Software and Services sector.
  • This is Zendesk’s 1st transaction in Finland.

M&A Deal Summary
Date 2024-03-14
Target Ultimate
Sector Internet Software and Services
Buyer(s) Zendesk
Sellers(s) Tesi
Deal Type Add-on Acquisition

Target

Ultimate

Helsinki, Finland
website
Ultimate is a customer support automation platform, that brings the tools, team, and tactics that can take clients from 0 to +60% automation across digital support channels, including chat, email, messaging, and more. Ultimate was founded in 2016 and is based in Helsinki, Finland.

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Buyer(S) 1

Buyer

Zendesk

San Francisco, California, United States

website

Category Company
Founded 2007
Sector Internet Software and Services
Employees4,520
Revenue 1.0B USD (2020)
DESCRIPTION

Zendesk is a customer service software platform designed to bring organizations and their customers closer together. Zendesk was formed in 2007 and is based in San Francisco, California.

DEAL STATS #
Overall 5 of 5
Sector (Internet Software and Services) 5 of 5
Type (Add-on Acquisition) 5 of 5
Country (Finland) 1 of 1
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-08 Klaus

Tallinn, Estonia

Klaus is an AI-powered quality management platform that helps companies drive revenue through excellent customer service. Klaus was founded in 2018 and is based in Tallinn, Estonia.

Buy -

Seller(S) 1

SELLER

Tesi

Investor Investor Investor Investor Investor

website

Category Sovereign Wealth Fund
Founded 1995
PE ASSETS 2.4B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Tesi is a Finnish venture capital and private equity firm specializing in fund and direct investments. Tesi specifically targets minority investments in early, growth stage, and established businesses. Areas of interest include industrial, mining, software, business and consumer services, healthcare, life science, cleantech, and marine. Tesi was established in 1995 and it is based in Helsinki.

DEAL STATS #
Overall 32 of 32
Sector (Internet Software and Services) 2 of 2
Type (Add-on Acquisition) 19 of 19
Country (Finland) 29 of 29
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-23 Lamor

Porvoo, Finland

Lamor is a provider of oil spill clean-up equipment, services, and solutions. The Company provides its customers with equipment used for oil recovery, waste management and water treatment as well as versatile environmental solutions and services, such as clean-up and preparedness services related to oil spill response and oil spills, services for the treatment of waste and tailored and adapted water treatment solutions. Lamor was formed in 1982 and is based in Porvoo, Finland.

Sell -
Mergr

Product

Company

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