LONDON (ShareCast) - (Sharecast News) - Video conference company Zoom Video Communications has agreed to buy cloud call centre company Five9 in an all-share deal valued at around $14.7bn.
Under the terms of the agreement, Five9 shareholders will receive 0.5533 shares of Zoom Class A common stock for each of their shares.

Zoom said that combining Five9's Contact Centre as a Service (CCaaS) solution with its broad communications platform "will transform how businesses connect with their customers, building the customer engagement platform of the future".

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

Zoom chief executive and founder Eric S. Yuan said: "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.

"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."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE