In essence, the move will bring together Five9’s Contact Center as a Service (“CCaaS”) solution with Zoom’s comprehensive communications platform and change how organizations communicate with their consumers, laying the groundwork for future customer engagement platforms. In particular, the purchase is intended to strengthen Zoom’s profile with business clients while also allowing it to accelerate its long-term growth opportunities by bringing it into the $24 billion contact center industry. Chief Executive Officer and Founder of Zoom, Eric S. Yuan, confirmed: Moreover, the acquisition of Five9 complements its rising popularity with its Zoom Phone service, a cloud phone system that provides a digital alternative to conventional phone solutions, allowing businesses to communicate and engage in innovative ways to keep their operations running. Chief Executive Officer of Five9, Rowan Trollope, stated:
The deal aims to strengthen customer relations
Furthermore, the merger will provide both firms with the considerable cross-selling potential to their respective clients. For instance, Zoom will play a more prominent role in advancing the digital future and bringing enterprises and their consumers closer together thanks to the purchase. While the deal has been accepted by the boards of directors of Zoom and Five9, the acquisition, which is expected to finalize in the first half of 2022, is subject to Five9 shareholder approval, receipt of relevant regulatory clearances, and other customary closing conditions. Naturally, Five9’s Board of Directors recommends that shareholders accept the transaction and the merger agreement. [robinhood]
