Zoom Video To Acquire Cloud Contact Center Provider Five9 for $14.7 Billion in Stock
Video source: YouTube, CNBC Television Zoom Video Communications Inc (Nasdaq: ZM ) announced Sunday it has agreed to acquire Five9 Inc (Nasdaq: FIVN), a cloud-based contact center service provider, in an all-stock transaction valuing the company at $14.7 billion. Under the terms of the agreement, Five9 shareholders will receive 0.5533 shares of Zooms Class A common stock for each Five9 share. This represents a transaction value of $200.18 per share of Five9 stock based on the closing price of Zooms common stock on Friday, July 16. After the transactions expected close during the first half of 2022, Five9 will become an operating unit of Zoom. Trollope will continue as Five9s chief executive officer and become a president at Zoom, reporting to chief executive officer Eric Yuan. Zoom, whose online conferencing services took off during the COVID-19 pandemic while people worked and attended school from home, has been looking to expand into an adjacent market that could bolster revenue as lockdowns end.
Zoom Video To Acquire Cloud Contact Center Provider Five9 for $14.7 Billion in Stock
Video source: YouTube, CNBC Television Zoom Video Communications Inc (Nasdaq: ZM ) announced Sunday it has agreed to acquire Five9 Inc (Nasdaq: FIVN), a cloud-based contact center service provider, in an all-stock transaction valuing the company at $14.7 billion. Under the terms of the agreement, Five9 shareholders will receive 0.5533 shares of Zooms Class A common stock for each Five9 share. This represents a transaction value of $200.18 per share of Five9 stock based on the closing price of Zooms common stock on Friday, July 16. After the transactions expected close during the first half of 2022, Five9 will become an operating unit of Zoom. Trollope will continue as Five9s chief executive officer and become a president at Zoom, reporting to chief executive officer Eric Yuan. Zoom, whose online conferencing services took off during the COVID-19 pandemic while people worked and attended school from home, has been looking to expand into an adjacent market that could bolster revenue as lockdowns end.