Zendesk to buy SurveyMonkey parent Momentive

Zendesk (NYSE: ZEN) agreed to buy Momentive (Nasdaq: MNTV), the parent company of SurveyMonkey, for around $4.13 billion in stock.

Why it's the BFD: Investors reacted very poorly, with Zendesk shares plummeting around 16% in after-hours trading. It's too early to say this will be another Zoom/Five9 situation, in which stock price depreciation scuttled a major enterprise software merger. But it's not too early to think about it.

• Bonus: Thoma Bravo this morning announced the competition of its $6.4 billion take-private buyout of SurveyMonkey rival Medallia.

The bottom line: "For Zendesk, which offers a platform that connects brands with customers ... the purchase appears to be a play for a larger slice of the expanding customer analytics market." — Kyle Wiggers, VentureBeat