The popular video communication app Zoom has acquired a leading intelligent cloud center, Five9, for $14.7 billion in all-stock arrangement, according to a report by Zoom on Monday.

  • The acquisition will expand Zoom’s presence with enterprise customers and accelerate its long-term growth opportunity adding $24 billion in the contact center market.
  • Five9 is a pioneer firm in the cloud-based center software industry and a comprehensive suite of ease-to-use applications that enhances management and optimization of customer engagements.
  • The CEO and Founder of Zoom Eric S. Yuan stated the addition of Five9 is a natural fit to their corporate strategy and will help to enhance the platform and add more value to the customers.
  • The popularity of Zoom Phone offering has been growing and acquisition of Five9 will improve cross-selling opportunities.

Zoom will now play an improved role in driving the digital future and bringing customers and businesses closer together.

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