Tag: Five9

Zoom is having another stab at buying Five9 more than two years after its failed $14.7 billion bid.

According to a Bloomberg report, Zoom, the California-based communications tool vendor, has held acquisition discussions with Five9, which is working with advisers.

Five9, a contact centre software vendor based in California, will likely attract other potential buyers.

Five9 has about 950 channel partners worldwide and 700 in North America. More than 32 per cent of Zoom’s overall sales come through the channel. In 2022, the company said it had over 8,500 partners worldwide.

In 2021, Zoom’s $14.7bn offer for Five9 was voted down by the its shareholders.

Zoom and Five9 have mutually terminated the merger agreement started by the parties on July 16, 2021.

At Five9’s special meeting of stockholders held on September 30, 2021, Five9 did not obtain the requisite stockholder support for the merger agreement. As a result, Zoom and Five9 each had the ability to terminate the merger agreement.  It is rare that a merger gets as far as the shareholder stage and one of the parties shareholders say “nah, not good enough”.

Eric S. Yuan, Chief Executive Officer and Founder of Zoom was putting his best spin on the situation saying that it would have been good for both and his outfit has not given up on wanting a foot in the door of the contact centre market. He said that the contact centre market remains a strategic priority for Zoom, and we are confident in our ability to capture its growth potential. Read more…