Business

Zoom enters definitive agreement for Five9 acquisition


Combining Five9’s Contact Centre as a Service (CCaaS) solution with Zoom’s broad communications platform will transform how businesses connect with customers, building the customer engagement platform of the future. — Reuters pic
Combining Five9’s Contact Centre as a Service (CCaaS) solution with Zoom’s broad communications platform will transform how businesses connect with customers, building the customer engagement platform of the future. — Reuters pic

KUALA LUMPUR, July 19 — Zoom Video Communications Inc has announced entering a definitive agreement to acquire Five9 Inc, a leading provider of the intelligent cloud contact centre, in an all-stock transaction valued at approximately US$14.7 billion.

Combining Five9’s Contact Centre as a Service (CCaaS) solution with Zoom’s broad communications platform will transform how businesses connect with customers, building the customer engagement platform of the future.

The acquisition is expected to help enhance Zoom’s presence with enterprise customers and allow it to accelerate its long-term growth opportunity by adding the US$24 billion contact centre market.

“We are continuously looking for ways to enhance our platform, and the addition of Five9 is a natural fit that will deliver even more happiness and value to our customers,” said Zoom Chief Executive Officer and Founder, Eric S. Yuan, in a statement.

“Zoom is built on a core belief that robust and reliable communications technology enables interactions that build greater empathy and trust, and we believe that holds particularly true for customer engagement,” he said.

According to Five9 Chief Executive Officer, Rowan Trollope, joining forces with Zoom will provide Five9’s business customers access to best-of-breed solutions, particularly Zoom Phone, enabling them to realise more value and deliver real results for their business.

Following the close of the transaction, Five9 will be an operating unit of Zoom and Trollope will become a President of Zoom and continue as CEO of Five9, reporting to Yuan.

Goldman Sachs & Co LLC serves as exclusive financial adviser and Cooley LLP, as legal counsel to Zoom. Qatalyst Partners is serving as exclusive financial adviser and Latham and Watkins LLP serves as legal counsel to Five9. — Bernama

See also  Fujifilm shares fall after report Avigan not showing clear efficacy in some coronavirus trials



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.