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Home Uncategorized Zoom acquiring cloud call centre company for $14.7 billion in stock

Zoom acquiring cloud call centre company for $14.7 billion in stock

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Zoom acquiring cloud call centre company for $14.7 billion in stock
Zoom headquarters in San Jose,CA

Videoconferencing firm Zoom, whose growth was supercharged by the pandemic over the past year, will buy the cloud call centre company Five9 in an all-stock deal valued at about $14.7 billion, reports Tech Xplore. That is far greater than Zoom’s market valuation a little over two years ago when it went public for slightly more than $9 billion. Zoom founder and CEO Eric Yuan said in a blog post Sunday that the acquisition will accelerate the company’s long-term growth and complements the Zoom Phone, a cloud phone system that is seeing strong demand. Five9 will become a unit of Zoom once the transaction closes. Rowan Trollope will become a president of Zoom and continue as Five9 CEO. The deal is expected to close in the first half of 2022. It still needs approval from Five9 shareholders.

 

https://techxplore.com/news/2021-07-five9-147b-all-stock-transaction.html

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