Video conference company Zoom announced it is buying cloud based call centre operator Five9 for $14.7 billion in an all-stock deal.
“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 $24-billion contact centre market,” Zoom said in a statement.
“Zoom’s acquisition of Five9 is complementary to the growing popularity of its Zoom Phone offering. Zoom Phone is a modern, cloud phone system that offers a digital alternative to legacy phone offerings, enabling organizations to connect and interact in new and convenient ways to keep businesses moving”, the statement said.
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”, said Eric S. Yuan, Chief Executive Officer and Founder of Zoom