On July 15, Five9’s stock was at $175.43. Today is boosting: it is currently at $185.7, resulting in a 6% gain. That’s not what matters, though. Zoom will acquire Five9 for $14.7 Billion, with its soaring stock to expand into a market that could uplift revenue as lockdowns end. Zoom was trying to keep growing as the workforce begin to return to the office and students to school, and the deal for Five9 will help it increase offerings to its more lucrative business and enterprise.
The traditional call center, where a customer service representative is answered by phone, has moved to the internet and is now often powered by chatbots. The market for these cloud-based customer call centers is at $24 billion, according to numerous companies. Together, Zoom and Five9 aim to better compete with the rivals such as Cisco Systems, RingCentral, and Amazon.
Five9’s customers include big names like Under Armour, Citrix, Athena Health, and Lululemon. Rowan Trollope, CEO of Five9, will become a president at Zoom while continuing to run Five9 as an operating unit. Goldman Sachs advised Zoom and Qatalyst Partners advised Five9.
Finance and Entertainment Reporter
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