Tech Forums & Message Boards. Discuss Newest & Greatest Tech Trends. › Tech Forums & Message Boards. Discuss Newest & Greatest Tech Trends. › General Talk › July 18: Zoom acquires Five9 for $14.7B
MemberSeptember 13, 2021 at 9:53 am
Videoconferencing giant Zoom made its biggest acquisition to date, purchasing the contact center technology provider Five9 for $14.7 billion in an all-stock transaction.
Five9 is a 20-year-old California company that specializes in flexible cloud-based contact center technology, as opposed to traditional on-premise systems for contact center staff. Five9 competes with the likes of Twilio, Talkdesk, Genesys and cloud giant Amazon Web Services in what is becoming a crowded space.
“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 CEO Eric Yuan said in a statement. “Enterprises communicate with their customers primarily through the contact center, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers.”
Zoom launched its own cloud-based enterprise phone system in 2019; the company says the Five9 acquisition will complement that move, as the company looks to expand its reach with enterprise customers beyond its popular videoconferencing software.
MemberSeptember 13, 2021 at 5:00 pm
Well Zoom has been enjoying colors of rainbow since Covid so much that this acquisition does not shock me much.