{"id":25315,"date":"2021-07-19T04:45:30","date_gmt":"2021-07-19T04:45:30","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/zoom-buys-cloud-call-center-firm-five9-for-14-7-billion.html"},"modified":"2021-07-19T04:45:30","modified_gmt":"2021-07-19T04:45:30","slug":"zoom-buys-cloud-call-center-firm-five9-for-14-7-billion","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/zoom-buys-cloud-call-center-firm-five9-for-14-7-billion.html","title":{"rendered":"Zoom buys cloud call center firm Five9 for $14.7 billion"},"content":{"rendered":"

Zoom is taking advantage of the impressive rise in its stock price in the past year to make its first major acquisition. The popular video conferencing firm, which was valued at about $9 billion at its IPO two years ago<\/a>, said Sunday evening it has agreed a deal to buy cloud call centre service provider Five9 for about $14.7 billion in an all-stock transaction.<\/p>\n

20-year-old Five9 will become an operating unit of Zoom after the deal, which is expected to close in the first half of 2022, the two firms said.<\/p>\n

The proposed acquisition is Zoom\u2019s latest attempt to expand its offerings. In the past year, the video conferencing software has added several office collaboration products, a cloud phone system, and an all-in-one home communications appliance<\/a>.<\/p>\n

The acquisition of Five9 \u2014 which has amassed over 2,000 customers worldwide including Citrix and Under Armour and processes over 7 billion minutes of calls annually \u2014 will help Zoom enter the \u201c$24 billion\u201d market for contact centers, the company said.<\/p>\n

\u201cWe 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,\u201d said Eric S. Yuan, founder and chief executive of Zoom, in a statement.<\/p>\n

Joining forces will offer both firms \u201csignificant\u201d cross-selling opportunities in each other\u2019s respective customer bases, the two firms said.<\/p>\n

\u201cBusinesses spend significant resources annually on their contact centers, but still struggle to deliver a seamless experience for their customers,\u201d said Rowan Trollope, chief executive of Five9.<\/p>\n

\u201cIt has always been Five9\u2019s 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\u2019s 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\u2019s \u2018ease-of use\u2019 philosophy and broad communication portfolio, will truly enable customers to engage via their preferred channel of choice.\u201d<\/p>\n

The two firms will do a joint Zoom call Monday to share more about the transaction.<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/dxAl4DMDXl0\/<\/p>","protected":false},"excerpt":{"rendered":"

Zoom is taking advantage of the impressive rise in its stock price in the past year to make its first major acquisition. The popular video conferencing firm, which was valued <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-25315","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t