Zoom, a video conference platform company, has agreed to acquire “Five9,” a cloud-based call center operator, for $14.7 billion in stock exchange.
Reuters reported on the 19th that this is the largest acquisition of Zoom.
“The acquisition will help expand Zoom’s influence on corporate customers,” Zoom said in a statement. “We will accelerate long-term growth opportunities by adding a $24 billion call center market to our business.”
Zoom grew rapidly last year as telework and remote classes became common due to the pandemic but questions have been raised about future growth as the vaccine supply expanded.
In particular, competition with other video conference platforms operated by Microsoft and Google has intensified.
Five9 is a call center operator with customers such as Under Armour, LuluLemon, Citrix and Athena Health.
Rowan Trollov, the company’s current CEO, will continue to lead the Five Nine business organization, Zoom said.
Under the deal, shareholders of Five Nine will receive 0.5533 shares of Class A common stock per share.