On Sunday, Zoom declared that it’s purchasing Five9, a cloud contact center software server, in an overall stock transaction pricing the organization at $14.7 billion. Zoom’s first billion-dollar accession was signified by this deal and arrives as the organization arranges for a post-pandemic world with workers are rejoining the office. According to FactSet, it is this year’s second massive U.S. tech deal after Microsoft’s scheduled $16 billion buying of Nuance Communications.
The CEO of Zoom, Eric Yuan said in a press release that “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.” On Friday, Five9 shut down with a huge market capital of $11.9 billion, or $177.60 a share. Zoom has stated that Five9 stockholders will get 0.5533 Zoom Video Communications shares for every single Five9 share. It will value Five9 at $200.28 a share, which is nearly 14% of Zoom’s total market capitalization of nearly $107 billion and it represents a 13% premium.
Zoom has been recognized among the leading development stories in the last 16 months after the COVID-19 happened which makes offices a sudden shutdown all over the world. It also forces employees in retail, law offices, finances, and tech sectors to get in touch with their organizations from remote places.