Zoom to buy Five9 for $14.7bn

Zoom Video Communications has announced that it will buy intelligent cloud contact centre business Five9 for $14.7 billion.

Five9 develops cloud-based contact centre software across a number of applications and channels to support the management of customer interactions.

The company aims to combine Five9’s Contact Centre as a Service with its broad communications platforms to better connect businesses with their customers.

Zoom said that the acquisition is expected to enhance its presence with enterprise customers and allow it to “accelerate its long-term growth opportunity” by adding the $24 billion contact centre market.

The company added that the buyout is complementary to its cloud-based phone system ‘Zoom Phone.’

“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,” said Eric S. Yuan, chief executive and founder of Zoom. “Zoom is built on a core belief that robust and reliable communications technology enables interactions that build greater empathy and trust, and we believe that holds particularly true for customer engagement.”

Yuan added: “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. We are thrilled to join forces with the Five9 team, and I look forward to welcoming them to the Zoom family.”

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