Popular video communication platform Zoom has announced it will be acquiring intelligent cloud contact center solution Five9 in a move designed to give customers robust capabilities to engage their customers. The all-stock transaction, worth approximately $14.7 billion, helps Zoom grow its engagement with its enterprise customers.
Five9’s cloud-based contact center software, used by over 2,000 customers worldwide, provides business organizations with a highly-scalable and secure cloud contact suite of applications. The platform allows for efficient multi-platform management and optimization of customer engagements.
“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, Chief Executive Officer and Founder of Zoom.
“Zoom is built on a core belief that robust and reliable communications technology enables interactions that build greater empathy and trust, and we believe that holds particularly true for customer engagement. Enterprises communicate with their customers primarily through the contact center, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers. We are thrilled to join forces with the Five9 team, and I look forward to welcoming them to the Zoom family.”
The new partnership also creates valuable cross-selling opportunities. Each organization can drive the collective digital future of business by accessing each other’s customer bases.
“Businesses spend significant resources annually on their contact centers, but still struggle to deliver a seamless experience for their customers,” said Rowan Trollope, Chief Executive Officer of Five9.
“Joining forces with Zoom will provide Five9’s business customers access to best-of-breed solutions, particularly Zoom Phone, that will enable them to realize more value and deliver real results for their business. This, combined with Zoom’s ‘ease-of use’ philosophy and broad communication portfolio, will truly enable customers to engage via their preferred channel of choice.”