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Online Meeting Service Zoom Makes Its Largest Acquisition Ever

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Online conferencing service Zoom Video Communications has acquired the American company Five9, which provides call centre services via the Internet, for 14.7 billion dollars. It is the largest acquisition ever for Zoom.

 

The incorporation of Five9 should help the company become even more competitive in-home and remote work services. The acquisition will be fully settled in shares, with Zoom benefiting from its share price gain during the pandemic. Five9 will become a business unit of Zoom upon completion.

Zoom CEO Eric Yuan speaks of a ‘natural addition’ to his company to help customers even better service. Zoom has done good business due to corona with many working from home and therefore saw the customer base grow strongly. The company, founded in 2011, rivals Microsoft and Google in telecommuting technology.

Five9’s customers include sportswear brands Lululemon Athletica and Under Armour, software company Citrix and healthcare provider Athena Health.

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