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Zoom to pay US$14.7 billion to buy Five9 to shore up video calls as work-from-home becomes the new norm in age of the pandemic

Zoom Video Communications has agreed to acquire Five9 for US$14.7 billion in its largest ever acquisition, targeting a call centre provider to bolster its popular videoconference app against stiffening competition.Zoom will use its surging stock to pay for the deal, giving Five9 investors 0.5533 shares of its class A common stock under an agreement announced Sunday. The target firm will become an operating unit of Zoom’s after the deal, which is subject to shareholder approval and slated to…

Read the original article at South China Morning Post

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