Zendesk has entered into a definitive agreement to be acquired by an investor group, in an all-cash transaction for $10.2 billion. The group are led by Permira and Hellman & Friedman, and includes a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and GIC, Zendesk said in a statement on Friday.

The transaction has been approved by Zendesk’s board, and is expected to close in the fourth quarter of this year, subject to customary closing conditions.

Upon closing of the transaction, Zendesk will operate as a privately-held company.

Qatalyst Partners and Goldman Sachs are serving as financial advisors to Zendesk. Wachtell, Lipton, Rosen & Katz is serving as Zendesk’s legal advisor.

Morgan Stanley is serving as financial advisor to the investor group. Fried, Frank, Harris, Shriver & Jacobson is serving as M&A counsel to the investor group and to Permira. Simpson Thacher & Bartlett is serving as financing counsel to the investor group. Kirkland & Ellis is serving as counsel to Hellman & Friedman.

[Image courtesy: Zendesk]