Zoom Cloud Call Center buys Five 9 for 14 14.7 billion

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Zoom Cloud Call Center buys Five 9 for 14 14.7 billion

Zoom is taking advantage of the impressive rise in stock prices over the past year to achieve its first major acquisition. The popular video conferencing firm, valued at آئی 9 billion in its IPO two years ago, said Sunday evening that it had acquired five cloud call center service providers in a stock transaction for about 14 14.7 billion. Agreed to purchase agreement.

The two companies say Zoom will become the operating unit after a 20-year five-year deal, which is expected to close in the first half of 2022.

The proposed acquisition is the latest attempt by Zoom to expand its offerings. Over the past year, video conferencing software has included a number of Office collaboration products, a cloud phone system, and a home communication device.

The company says the acquisition of Five 9 – which has gathered more than 2,000 subscribers worldwide, including Strix and Under Armor, and handles more than 7 billion minutes of calls a year.

Zoom founder and chief executive, Eric S. Yuan, said, “We’re constantly looking for ways to expand our platform, and the addition of the Five 9 is a natural fit that adds even more joy and value to our customers.” Will do. ” .

The two firms say the merger will give the two companies “significant” cross-selling opportunities at each other’s respective customer bases.

“Businesses spend significant resources on their call centers every year, but still strive for a seamless experience for their customers,” said Rowan Trolop, chief executive of Five9.

“It’s always been Five’s mission to make it easier for businesses to solve this problem and engage with their customers more meaningfully and efficiently. Joining forces with Zoom will give Five’s business users access to the best-of-breed solutions, especially the Zoom phone, which will help them realize more importance and deliver real results for their business. This, combined with Zoom’s ‘ease of use’ philosophy and extensive communication portfolio, will truly engage users through their preferred preferred channel.

The two companies will make a joint zoom call on Monday to share more information about the transaction.

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