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Zoom to buy cloud software provider Five9 in US$15 billion deal
FILE PHOTO: Small toy figures are seen in front of Zoom logo in this illustration picture taken March 15, 2021. REUTERS/Dado Ruvic/Illustration
19 Jul 2021 09:30AM (Updated:
19 Jul 2021 10:03AM) Share this content
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Teleconferencing services provider Zoom Video Communications has struck a deal to buy cloud software provider Five9 Inc in an all-stock transaction valued at about US$14.7 billion, the company said on Sunday (Jul 18).
Five9 will become an operating unit of Zoom and its chief executive, Rowan Trollope, will become a president of Zoom and stay on as chief of the unit after the deal, which is expected to close in the first half of 2022, it said in a statement.
Five9
Five9 is an industry-leading provider of cloud contact center solutions, bringing the power of cloud innovation to more than 2,000 customers worldwide and facilitating billions of customer engagements annually. The Five9 Intelligent Cloud Contact Center provides digital engagement, analytics, workflow automation, workforce optimization, and practical AI to help customers reimagine their customer experience. Designed to be reliable, secure, compliant, and scalable, the Five9 platform helps increase agent and supervisor productivity, connects the contact center to the business, and ultimately deliver tangible business results including increased revenue and enhanced customer trust and loyalty.
Forward-Looking Statements
This communication contains forward-looking information related to Zoom, Five9 and the acquisition of Five9 by Zoom that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or impli
Reuters
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Small toy figures are seen in front of Zoom logo in this illustration picture taken March 15, 2021. REUTERS/Dado Ruvic/Illustration
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July 18 (Reuters) - Zoom Video Communications Inc (ZM.O) announced a $14.7 billion all-stock deal to buy cloud-based call center operator Five9 Inc (FIVN.O) in its largest-ever acquisition, as competition intensifies in its core videoconferencing sector.
The teleconferencing services provider has become a household name and investor favorite in the year since the coronavirus pandemic, as businesses and schools adopted its services to hold virtual classes, office meets and socialise.
The San Jose, California-based company is now shifting focus to its two-year-old cloud-calling product Zoom Phone and conference-hosting product Zoom Rooms as bigger players Facebook (FB.O) and Alphabet s (GOOGL.O) Google amp up their video products.
Zoom to Acquire Five9
The combination of Zoom’s robust communications platform with Five9’s intelligent cloud contact center will enable organizations to reimagine the way they engage with their customers
SAN JOSE, Calif. and SAN RAMON, Calif., July 18, 2021 (GLOBE NEWSWIRE) Zoom Video Communications, Inc. (NASDAQ: ZM) today announced it has entered into a definitive agreement to acquire Five9, Inc. (NASDAQ: FIVN), a leading provider of the intelligent cloud contact center, in an all-stock transaction valued at approximately $14.7 billion. Combining Five9’s Contact Center as a Service (“CCaaS”) solution with Zoom’s broad communications platform will transform how businesses connect with their customers, building the customer engagement platform of the future.