Business
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.
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Nintendo says it will buy back shares after its quarterly profit missed estimates
The company reported an operating income of 119.75 billion yen compared to their projection of 130 billion yen.
Nintendo says it plans to buy back up to 1.51% of its shares for 100 billion yen.
It saw a mixed picture with Switch hardware sales, which fell by 22% overall.
Investors are watching gaming firms closely for signals that the COVID-19 pandemic sales boom may be running out of steam. Nintendo is highly dependent on the cyclical console business, with sales of its devices traditionally peaking around the fifth year.
The devastating results from the Switch Lite
Nintendo saw sales of Switch Lite units more than halve to 1.14 million during the April-June quarter but maintained its full-year forecast for Switch hardware at 25.5 million units. It sold 4.45 million Switch consoles, including the Lite, during the quarter.
The creator of Super Mario and Animal Crossing said first-quarter operating profit fell 17% to 119.8 billion yen ($1.1 billion), falling short of a Refinitiv consensus estimate of 129.3 billion yen.
The games maker reported record earnings during the pandemic-fueled gaming boom.
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Disney has revealed pricing for its new, highly anticipated Star Wars hotel
Let’s just say it is not cheap.
The Disney-based hotel Galactic Starcruiser is a cruise ship set in space, but its price tag is only made for those with a thick wallet.
The hotel, which opens in Spring 2022, is billed by Disney as a “revolutionary new two-night experience.
The price?
$6,000 for two nights.
The ticket includes two nights at the hotel, food and drink (except for “alcoholic and specialty beverages”), admission to Disney’s Hollywood Studios park for a day to visit the Galaxy’s Edge park, and parking.
You’re mostly paying for the immersive Star Wars experience, which Disney says will offer an in-universe style adventure, complete with roleplaying staff who’ll ask you for help on quests or factions that you’ll be able to join during your trip. Guests will even be allowed (and even encouraged) to dress the part in Star Wars outfits.
So, enjoy your stay.
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