Zoom Video Communications announced the acquiring of the cloud contact center software provider Five9. The company announced the news in a statement on its website.
According to the agreement, Five9 shareholders will receive 0.5533 Class A Zoom Video Communications common stock for each Five9 share (priced as of July 16, 2021). Five9's common stock will be worth $200.28, and the deal is valued at $14.7 billion. The companies plan to finalize the agreement in the first half of next year.
Zoom expects that the acquisition of Five9 will help it expand its corporate presence on the market and accelerate growth. The company also plans to leverage Five9's customer base and resources for the development and promotion of its cloud phone service, Zoom Phone, for contact centers.
Five9 was founded in 2001 and, according to the company, the total number of Five9's clients exceeds two thousand. Following the acquisition, Five9 will be Zoom's operational unit, and Five9 CEO Rowan Trollope will become President of Zoom and continue as CEO of Five9, reporting to Zoom CEO and Founder Eric Yuan.
This June, Zoom already bought Kites, a German startup that develops a real-time speech translator. Zoom plans to integrate the technology developed by Kites into its service.