Zoom buys Five9 for $ 14.7 billion “to provide even more happiness”

Video conferencing platform Zoom will buy cloud access center software company Five9 for $ 14.7 billion the company announced.

“We are constantly looking for ways to improve our platform, and adding Five9 is a natural fit that will bring even more happiness and value to our customers,” Zoom CEO Eric Yuan said in a statement. He added that the deal will add more corporate customers to Zoom’s customer base and that Five9 will “complement” it. Zoom in on the phone cloud system.

Under the terms of the transaction, Five9 will become Zoom’s operational unit and CEO of Rowan Trollope, the CEO of the company reporting to Yuan. In 2020, Five9’s full year revenue increased 33 percent from the prior year to $ 435 million.

Five9 is Zoom’s first billion-dollar acquisition, and it comes at a time when the company is looking to continue the momentum it gained during a coronavirus pandemic after people have worked and trained remotely during locks. Now many are returning to offices at least part of the time. “The trend toward a hybrid workforce has accelerated over the past year, which has fueled the transition of contact centers to the cloud service and the growing demand from customers for a customized and personalized experience,” Yuan said a separate blog post from the store.

Zoom’s stock price has more than tripled since last year’s pandemic closures, but growth has begun to slow slightly. Its net sales increased by 326 percent in 2020, but in the first quarter of 2021 Zoom reported growth about 191 percent To $ 956 million.

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