Five9

Five9 is a cloud platform developer for enterprise call centers founded in 2001. It helps the company optimize and analyze the operation of call centers. By July 2021, Five9 has more than 2 thousand customers.

History

2021: Zoom bought Five9 for $14.7 billion

In July 2021, Zoom Video Communications announced the purchase of Five9 for $14.7 billion, which significantly exceeds the market capitalization of the cloud service provider at the end of exchange trading preceding the announcement of the sale of the company ($11.9 billion). The closure of the transaction is scheduled for the first half of 2022.

The financial advisor to Zoom under this deal was Goldman Sachs, Five9 - Qatalyst Partners.

Zoom acquired Five9 for $14.7 billion

Under the terms of the agreement, Zoom will exchange its shares for Five9 securities at a ratio of 0.5533 to 1. Five9 CEO Rowan Trollope will become president of Zoom and continue to lead the company, but already reporting directly to Eric Yuan.

With this purchase, Zoom plans to increase its market share in enterprise IT solutions and release its own product for call centers. Zoom intends to use the resources and customer base of Five9 to develop its cloud phone Zoom Phone.

According to Rowan Trollope, during the period of the COVID-19 coronavirus pandemic, demand for the Five9 product increased sharply amid the general upturn in the cloud services market.

People understand what is happening, and now they know in which direction to move. Customer service has become an even higher priority for them. This is partly due to generations: new consumers have higher expectations regarding customer approaches.

Zoom will combine the Five9 "call center as a service" solution with its communication platform to "transform the way it interacts with its customers, creating a platform for the future."^[1]

Notes