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Zoom is not going to acquire Five9

Posted by By Maria Janulis October 2, 2021 Zoom is not going to acquire Five9 According to the latest news, Five9 will remain independent since its deal to be acquired by Zoom is off. A press release from Five9 says it was “terminated by mutual agreement.” However, as per other sources, Five9 shareholders rejected the $14.7 billion deal. Note that initially, Zoom announced the acquisition on 18th July. Five9 automates managing customer contacts for businesses, and the deal was supposed to bolster Zoom’s business offerings. Zoom’s competitors are mammoths like Microsoft and Google so the deal would have helped the smaller company expand. Technically, it was supposed to be an all-stock transaction. Unfortunately, Zoom lost more than a quarter of its stock price since it announced the acquisition. Normally, when a company is bought, shareholders receive a premium over their stock price because this was an all-stock deal. On the other hand, Zoom would be picking up Five9 at a discount. Earlier this month, Institutional Shareholder Services, an independent proxy advisor, recommended shareholders vote against the deal. The government’s national security risks highlighting also probably didn’t help matters. In a blog post, Zoom CEO Eric Yuan said the failed acquisition won’t significantly affect Zoom’s plans. The blog was published last Thursday. He wrote Five9 “was in no way foundational to the success of our platform nor was it the only way for us to offer our customers a compelling contact center solution.” He further wrote Zoom plans to keep its “long-standing partnerships” with Five9 and other companies that offer similar services. Tags: Zoom Share on Share on Facebook Share on Twitter Share on Pinterest Share on Email Maria Janulis October 2, 2021 Maria Janulis View More Posts Maria is a Florida-based columnist, working in the Journalism industry for the last five and a half years. She spends most of her time interacting with the like-minded group of people on social media.

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