Zoom inks pact to buy Five9 for $14.7bn to bolster app

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Islamabad

Zoom Video Communications agreed to acquire Five9 for $14.7 billion in its largest-ever acquisition, choosing a call centre provider to bolster its popular videoconference app against stiffening competition.

The deal is designed to help Zoom build up Zoom Phone, a cloud-based calling service, the company said in a statement.

“We are continuously looking for ways to enhance our platform, and the addition of Five9 is a natural fit,” Zoom Chief Executive Eric Yuan said.

Zoom will use its surging stock to pay for the deal, giving Five9 investors 0.5533 shares of its Class A common stock under the agreement. — TLTP

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