Zoom to acquire cloud-based call centre platform Five9 in $14.7B deal
Video communications giant Zoom has made a $14.7 billion buyout offer to NASDAQ-listed Five9, a cloud-based call centre platform.
The all-stock transaction will combine Five9’s Contact Centre as a Service (CCaaS) solution with Zoom’s diversified communications platform and help businesses improve their customer engagement.
The acquisition is expected to boost the Zoom Phone offering, which is the enterprise tech unicorn's cloud-based telephony system that provides an alternative to legacy calling systems.
Five9 offers a highly scalable and secure cloud contact centre, including a suite of easy-to-use applications that enables enterprises to track, manage, and optimise customer interactions across all channels.
"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," Eric Yuan, Founder and CEO, Zoom, said in a statement.
Five9 will become an operating unit of Zoom following the close of the deal
He added, "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 centre, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers.”
Following the close of the deal, Five9 will become an operating unit of Zoom. Its CEO Rowan Trollope will be a President in Zoom and continue to lead Five9 while reporting to Eric Yuan.
Five9 CEO Rowan Trollope said in a statement,
"Businesses spend significant resources annually on their contact centres, but still struggle to deliver a seamless experience for their customers. It has always been Five9’s mission to make it easy for businesses to fix that problem and engage with their customers in a more meaningful and efficient way. Joining forces with Zoom will provide Five9’s business customers access to best-of-breed solutions, particularly Zoom Phone, that will enable them to realise more value and deliver real results for their business."
California-headquartered Five9 has over 2,000 enterprise customers worldwide and facilitates billions of customer engagements annually.
Its Intelligent Cloud Contact Centre provides digital engagement, analytics, workflow automation, workforce optimisation, and practical AI to help customers reimagine their customer experience.