Zoom enters CCaaS market with Five9 buy

Zoom has entered into an agreement to acquire cloud contact centre giant Five9 for an all-stock transaction valued at $14.7bn.

The deal will combine Five9’s CCaaS solution with Zoom's communications platform to create a sizeable customer engagement platform, boosting Zoom’s presence with enterprise customers and accelerating its long-term growth opportunities by adding the £17.5m valued contact centre market.

Eric Yuan, CEO of Zoom said: “Enterprises communicate with their customers primarily through the contact centre, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers.”

The transaction, which is anticipated to close in the first half of calendar year 2022, is still subject to approval by Five9 stockholders.

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