San Jose, California-based Zoom Video Communications, Inc. (NASDAQ: ZM) is to acquire Five9, Inc. (NASDAQ: FIVN), a provider of an intelligent cloud contact center, in an all-stock transaction valued at approximately $14.7 billion.
The acquisition is expected to enhance Zoom’s presence with enterprise customers and allow it to accelerate its growth opportunity by adding the $24 billion contact center market. The acquisition is complementary to Zoom Phone offering, a cloud phone system that offers a digital alternative to legacy phone offerings, enabling organizations to connect and interact in convenient ways to keep businesses moving.
Led by Rowan Trollope, Chief Executive Officer, Five9 provides more than 2,000 customers worldwide with a cloud-based contact center software platform which delivers a comprehensive suite of applications that allows management and optimization of customer interactions across many different channels.
Five9’s Contact Center as a Service (“CCaaS”) solution will be integrated with Zoom’s broad communications platform to enable businesses to connect with their customers The combination also offers both companies significant cross-selling opportunities to each other’s respective customer bases.
Following the close of the transaction, Five9 will be an operating unit of Zoom and Rowan Trollope will become a President of Zoom and continue as CEO of Five9, reporting to Eric S. Yuan, Chief Executive Officer and Founder.