Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Zoom snaps up cloud call center firm for $14.7 billion

Published

on

Zoom is set to buy Five9

Zoom is pressing the answer button on a major acquisition

The video conferencing application is taking advantage of an impressive rise in its stock price in the past year and is now set to make its first major acquisition.

Zoom, which was valued at about $9 billion at its IPO two years ago, confirmed it has agreed on a deal to buy cloud call centre service provider Five9 for approximately $14.7 billion in an all-stock transaction.

Zoom has gained popularity over the course of the COVID-19 pandemic.

Five9 will become an operating unit of Zoom after the deal, which is expected to close in the first half of 2022.

The planned buyout is Zoom’s latest attempt to expand its offerings.

In the past year, the video conferencing software has added several office collaboration products, a cloud phone system, and an all-in-one home communications appliance.

Reports state that the acquisition of Five9 will help Zoom enter the “$24 billion” market for contact centers.

“We are continuously looking for ways to enhance our platform, and the addition of Five9 is a natural fit that will deliver even more happiness and value to our customers,”

said Eric S. Yuan, founder and chief executive of Zoom, in a statement.

Joining forces will offer both firms “significant” cross-selling opportunities in each other’s respective customer bases.

COVID pandemic sees the rise in video call platforms

As the world continues to work remotely, many from home – the world has seen a rise in video call platforms.

From Microsoft Teams, Google Meet’s, Skype and even Apple’s Facetime, which is set to launch on Android – the race is on between the tech giants to maintain a strong and viable product.

Zoom’s competitors have launched hybrid work features in a race to accommodate companies’ needs. 

Microsoft has unveiled design changes to its Microsoft Teams platform in order to improve remote workers’ interactions in meetings, while Google has revealed updates to its Workspace productivity suite, including new tools for its Meet video conferencing system.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Money

Will Australia’s foreign investment rule create an economic boost?

Published

on

Australian Treasurer Dr. Jim Chalmers announced an overall of foreign investment rules ahead of the budget.

Australia is set to announce a significant decline in its projected gross debt, signalling a more optimistic outlook for the country’s fiscal health.

The Airport Economist, Professor Tim Harcourt at UTS joins to discuss.

Continue Reading

Money

Research key to investment success

Published

on

What is the importance of research in the investing and super landscape in Australia?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Peter Green, Director of Research at Lonsec Research. #wyld money

Continue Reading

Money

Why “stagflation” will be the greatest financial threat of 2024

Published

on

With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

Continue Reading

Trending Now