Zoom is acquiring cloud software Five9 for nearly $15 billion

Zoom, which is a US-based teleconferencing services provider video communications platform has agreed to acquire cloud software provider Five9 Inc in an all-stock deal of worth $14.7 billion.

Zoom is acquiring cloud software Five9 for nearly $15 billion

The platform became a favourite of schools, colleges, the corporate world and investors after the drastic entry of the Pandemic in everyone’s life. As everyone adapted its services to hold meetings, virtual classes and of course for interactions.  

The acquisition is expected to bring enhancement in zoom’s presence with its enterprise customers and will escalate its long term growth opportunity by adding the around $24 billion contact center market, Zoom mentioned in a statement.

The acquired software will be served as complementary to Zoom Phone service, an alternative to legacy phone offerings by joining Five9’s business customers and combining its contact software to optimise the customers’ interactions across channels.

Five9 owners would get 0.5533 shares of Zoom's Class A common stock for each share of Five9, according to the agreement, which was approved by the boards of both businesses.

Based on the closing share price of Zoom Class A common stock on July 16, each share of Five9 common stock would cost $200.28 (approximately Rs. 14,970), with an estimated deal value of about $14.7 billion (about Rs. 14.7 billion).