San Francisco, NFAPost: Five9 CEO Rowan Trollope announced that the company will become an operating unit of Zoom as the company entered into a definitive agreement to be acquired by the company.
Rowan Trollope will become the president of Zoom and stay on as chief of the unit after the deal, which is expected to close in the first half of 2022.
Teleconferencing services provider Zoom Video Communications Inc has struck a deal to buy cloud software provider Five9 Inc in an all-stock transaction valued at about $14.7 billion.
“Five9 and Zoom have long been partners. As you know, Zoom is known for its relentless focus on customer happiness and the creation of a communications platform that focuses on ease of use,” said Rowan Trollope.
He also made it clear the combination of Zoom and Five9 will be a game changer. “Joining forces will create a transformative opportunity for two strong companies with complementary capabilities and shared values,” he said.
Rowan Trollope Zoom’s reach and brand will undoubtedly help propel Five9 forward and help the company deliver on its goal of significant international expansion. “In the same breath, I truly believe that Five9 is a natural fit that will complement Zoom’s broad cloud communications portfolio,” said Rowan Trollope.
Five9 CEO said the company joing hands will deliver customers a range of benefits including:
Improved Collaboration: Contact center agents will be able to communicate with internal departments and specialists more seamlessly and vice versa to solve problems and unlock opportunities in real-time.
Enhanced Customer Experience: End customers can benefit from a true customer engagement platform that enables them to interact with their brand of choice across channels and using rich media from voice, to chat to video, enhanced by artificial intelligence.
Optimised Deployments and Costs: Customers can benefit not only from fully cloud-native solutions but combining UCaaS and CCaaS brings the communication stack together in a way that is more manageable, more flexible, and more efficient resulting in a quicker ability to adapt to customers and market demands.
Under the pact, approved by the boards of both companies, Five9 stockholders will receive 0.5533 shares of Class A common stock of Zoom for each share of Five9, it added.
Based on the July 16 closing share price of Zoom Class A common stock, this represents a price of $200.28 for each share of Five9 common stock, and an implied deal value of about $14.7 billion.
Zoom has become a household name and investor favorite in the year since the coronavirus pandemic, as businesses and schools adopted its services to hold virtual classes, office meets and socialise.
