Welcome to the Tech Meme Right Home for Friday, June 24th, 2022. I'm Brian McCullough.

Today, the fire sale on tech companies has begun. More big important hacks to be aware of. Another

crypto bridge has been compromised. Amazon wants you to know about their AI

coding tool, Tik-Toc turns on the money spigot and of course the weekend long read suggestions.

Here's what you miss today in the world of tech.

Given the current market environment we should expect more headlines like this as even

high growth companies have seen their share prices beaten down so much that they're suddenly

in play in Wall Street's parlance.

Zen Desk is set to be acquired by an investor group in an all-cash deal

valuing the company at around 10.2 billion dollars and will go private once the deal closes. The

stock is up more than 30% this morning on the news but there was a private equity

offer for Zen Desk at a 17 billion dollar valuation a mere few months ago.

And this is another example, another one of those stocks that has been down significantly,

more than 50% from its all-time high, quoting CMBC.

The deal led by investment firms, Per Myra, and Helmin and Freeman, will give shareholders

$77.50 per share a premium of about 34% over the company's

closing stock price Thursday according to the press release.

Shares were up about 30% during pre-market trading on Friday.

The investment firms plan to take Zen Desk private once the deal closes.

Also included in the investor group is a wholly owned subsidiary of the Abu Dhabi Investment

Authority and GIC.

Zen Desk's board unanimously approved the deal which it expects to close in the fourth quarter of this year the company said end quote.

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