Zoom Acquires Cloud-based Call Center Operator Five9 Inc in a $ 15 Billion Deal
Zoom positions itself in the contact center market with a $ 14.7 billion acquisition of US cloud contact center provider Five9.
The global video conferencing platform provider, which already has a unified communications partnership with Five9, will pay the 18-year-old company in cash, subject to approval from Five9 shareholders.
The deal, which is due to be concluded in the first half of the calendar year 2022, gives Zoom access to the global “call center” market with “$ 24 billion”.
Five9 was founded in 2001 and has a presence in Southeast Asia. Zoom is described by Zoom as a pioneer in cloud-based contact center software that offers customer management applications through multiple channels.
"We're constantly looking for ways to improve our platform, and adding Five9 is a more natural solution that is both exciting and rewarding for our customers," said Eric S. Yuan, founder, and CEO of Zoom.
“Zoom is based on the fundamental belief that strong and reliable communication technology enables interactions that build empathy and trust, and we believe this is especially true when it comes to customer loyalty.
“Companies communicate with their customers primarily through the contact center, and we believe this acquisition will create a world-class customer loyalty platform that will help redefine the way companies of all sizes interact with their customers. We are very excited to be working with the Five9 team and look forward to welcoming them to the Zoom family, ”he added.
Upon completion of the transaction, Five9 will become a Zoom business unit, and Five9 CEO Rowan Trollope will become Zoom President and remain CEO of Five9, reporting to Eric Yuan.
“The mission of Five9 has always been to facilitate the company to solve this problem and to communicate more meaningfully and effectively with their customers. In partnership with Zoom, five9 business customers can enjoy a better solution, especially Zoom Phone, which allows them to create more value and deliver real results" - he said.
"This, combined with Zoom's user-friendly philosophy and broad communications portfolio, will truly enable customers to interact through their chosen channel." Zoom added that the deal will provide an opportunity for various cross-selling opportunities for their respective clients.
The deal comes less than a month after Zoom announced it would take over from German company Karlsruhe Information Technology Solutions, known as Kites, to add real-time translation capabilities.