Zoom agree to acquire Five9 for approximately $14.7 billion

The acquisition of Five9 by Zoom, which is anticipated to close in the first half of 2022, will see Five9’s Contact Centre as a Service (CCaaS) solution be combined with Zoom’s broad communications platform.

This will look to complement the growing popularity of Zoom’s Phone offering, and transform how businesses connect with their customers, building the customer engagement platform of the future.

The deal is expected to help enhance Zoom’s presence with enterprise customers, and allow it to accelerate its long-term growth opportunity by adding to the $24 billion contact centre market.

The combination also offers both companies significant cross-selling opportunities to each other’s respective customer bases.

As a result of the acquisition, Five9 will become an operating unit of Zoom, with Rowan Trollope becoming a president of Zoom, reporting to Zoom CEO Eric Yuan, while retaining his role as CEO of Five9.

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“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,” said Zoom founder and CEO, Yuan.

“Zoom is built on a core belief that robust and reliable communications technology enables interactions that build greater empathy and trust, and we believe that holds particularly true for customer engagement.

“Enterprises communicate with their customers primarily through the contact centre, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers.

“We are thrilled to join forces with the Five9 team, and I look forward to welcoming them to the Zoom family.”

Five9 CEO Trollope commented: “Businesses spend significant resources annually on their contact centers, but still struggle to deliver a seamless experience for their customers.

“It has always been Five9’s mission to make it easy for businesses to fix that problem and engage with their customers in a more meaningful and efficient way.

“Joining forces with Zoom will provide Five9’s business customers access to best-of-breed solutions, particularly Zoom Phone, that will enable them to realise more value and deliver real results for their business.

“This, combined with Zoom’s ‘ease-of use’ philosophy and broad communication portfolio, will truly enable customers to engage via their preferred channel of choice.”