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.
“We announced the Zoom Video Engagement Center, our cloud-based contact centre solution, which will launch in early 2022. Video Engagement Center will be a flexible, easy-to-use solution that connects businesses and their customers. We are building this new solution with the same scalability and trusted architecture that has made Zoom the platform of choice for businesses around the world. We also plan to maintain our valued existing contact centre partnerships with companies like Five9, Genesys, NICE inContact, Talkdesk, and Twilio. We remain focused on driving long-term value creation for Zoom shareholders and delivering happiness to our customers through our broad-based communications platform including unified communications, developer, and events solutions.”
