Zoom announced it is acquiring Five9, a leading intelligent cloud contact center provider, for approximately $14.7 billion.
Zoom has been rapidly improving its product and services, building on the success of its pandemic-fueled gains. Prior to the pandemic, the company’s platform was primarily used in the enterprise, but quickly became a household name, used by workers, schoolchildren, medical professionals, individuals and families around the world.
The company is continuing to build out its platform, as companies continue to grapple with a changed workforce in a post-pandemic reality. Zoom believes Five9 will be a valuable part of that improvement, giving Zoom users even more ways to interact with their customers.
“We are continuously looking for ways to enhance our platform, and the addition of Five9 is a natural fit that will deliver even more happiness and value to our customers,” said Eric S. Yuan, Chief Executive Officer and Founder of Zoom. “Zoom is built on a core belief that robust and reliable communications technology enables interactions that build greater empathy and trust, and we believe that holds particularly true for customer engagement. Enterprises communicate with their customers primarily through the contact center, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers. We are thrilled to join forces with the Five9 team, and I look forward to welcoming them to the Zoom family.”
The deal is an all-stock transaction, and is expected to close in the first half of 2022, subject to standard regulatory approvals.