Zoom has announced it has entered into a definitive agreement to acquire Five9 Inc., a provider of the intelligent cloud contact centre, in an all-stock transaction valued at $14.7bn.
The acquisition is expected to help enhance Zoom’s presence with enterprise customers and allow it to accelerate its long-term growth opportunity by adding the $24bn contact centre market. The deal is complementary to the growing popularity of Zoom’s cloud phone system and offers both companies significant cross-selling opportunities to each other’s respective customer bases.
Eric S. Yuan, Zoom CEO and founder said: “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. 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. We are thrilled to join forces with the Five9 team, and I look forward to welcoming them to the Zoom family.”
Rowan Trollope, Five9 CEO said: “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 realize more value and deliver real results for their business. This, combined with Zoom’s ‘ease-of use’ philosophy and broad communication portfolio, will truly enable customers to engage via their preferred channel of choice.”
Following the close of the transaction, Five9 will become an operating unit of Zoom and Rowan Trollope will become both a President of Zoom and continue as Five9’s CEO, reporting to Eric Yuan.