July 29, 2021

Ukraine Breaking News

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Zoom plans to buy Five9 for $ 14.7 billion

Zoom company headquarters. (Photo: Miscellaneous Photography / Shutterstock.com)

The Zoom video conferencing service wants to position itself even more widely in the future. The largest acquisition in the company’s history to date is to be made for this purpose.

For $ 14.7 billion (about € 12.5 billion), Zoom wants to buy US company Five9, a provider of cloud software for customer communications, in a share-funded deal, like the one announced on Monday evening in San Jose. Five9’s management is behind the deal.

The company plans to give Five9 shareholders 0.5533 Zoom shares for one share of its own. A share of Five9 is valued at $ 200.28, the stock closed at $ 177.60 on Friday. Shareholders have yet to approve the transaction. Zoom hopes for a deal in the first half of 2022. The acquisition is primarily intended to help with the further expansion of Zoom Phone, a cloud phone system for businesses.

Zoom itself has been listed on the stock exchange since April 2019. The IPO valuation was only $ 9 billion. But newspapers were in demand from the start, and the corona pandemic accelerated its upsurge. Zoom now has a market cap of just under $ 107 billion. dpa

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