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Monday, July 19, 2021

Five9 (FIVN) to be acquired by Zoom (ZM) for $14.7 bln

 




Five9 to be acquired by Zoom (ZM) in all-stock transaction valued at $14.7 bln
  • Zoom Video Communications (ZM) announced it has entered into a definitive agreement to acquire Five9 (FIVN) in an all-stock transaction valued at approximately $14.7 billion. Combining Five9's Contact Center as a Service solution with Zoom's broad communications platform will transform how businesses connect with their customers, building the customer engagement platform of the future.
  • The acquisition is expected to help enhance Zoom's presence with enterprise customers and allow it to accelerate its long-term growth opportunity by adding the $24 billion contact center market. Five9 is a pioneer of cloud-based contact center software. Its highly-scalable and secure cloud contact center delivers a comprehensive suite of easy-to-use applications that allows management and optimization of customer interactions across many different channels.
  • As part of the agreement, Five9 stockholders will receive 0.5533 shares of Class A common stock of Zoom Video Communications, Inc. for each share of Five9, Inc. Based on the closing share price of Zoom Class A common stock as of July 16, 2021, this represents a per share price for Five9 common stock of $200.28 and an implied transaction value of approximately $14.7 billion.
  • The Boards of Directors of Zoom and Five9 have approved the transaction. The Board of Directors of Five9 recommends that Five9 stockholders approve the transaction and adopt the merger agreement. The transaction, which is anticipated to close in the first half of calendar year 2022, is subject to approval by Five9 stockholders, the receipt of required regulatory approvals and other customary closing conditions.

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