Zoom buys cloud contact center Five9 for $14.7B

Zoom yesterday announced plans buy cloud call center service provider Five9 in a $14.7 billion all-stock transaction. Subject to shareholder approval, the acquisition is expected to close in the first half of 2022.

The acquisition could allow the to hedge its video bets after 18 months of unprecedented growth as both companies and individual users turned to the videoconferencing platform to stay in touch with co-workers, family, and friends. While the need for videoconferencing is unlikely to go anywhere, even with offices re-opening, Zoom appears to be looking to capitalize on its growing customer base by expanding services.

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Source:: Computerworld