Sunday, December 10, 2023

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

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.

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