Money
Zoom snaps up cloud call center firm for $14.7 billion
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.
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.
Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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Money
Markets edge higher as 10-year yields hit new highs
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.
The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.
Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.
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