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Zoom is buying a cloud call center company for $14.7 billion

After experiencing enormous growth during the COVID-1 9 pandemic, Zoom has originated its first major acquisition by purchasing shadow contact center corporation Five9 for $14.7 billion, it announced. The move will allow Zoom to expand into call center technology worth up to $ 24 billion, diversifying its products once works start returning to the office after the pandemic.

Five9 will become an operating unit of Zoom when the spate is closed, likely in the first half of 2022. “We are continuously looking for ways to enhance our platform and the addition of Five9 is a natural fit that will deliver even more … ethic to our clients, ” Zoom CEO Eric Yuan said in a statement.

Exciting news! We have signed an agreement to acquire @Five9. Together we will improved the customer engagement platform of the future! Details: https :// t.co/ gBpDMIUQuD

— Zoom (@ Zoom) July 19, 2021

Five9 is a 20 -year-old firm with 2,000 patrons worldwide, including SalesForce and Under Armour, and processes over 7 billion instants of calls annually. Zoom notes that it was already a “long-term” customer of Five9 and said the partnership will give Five9′ s business clients access to Zoom products like the multi-platform Zoom Phone app.

The acquisition won’t have much of an impact on consumers, as Five9 is largely a business-to-business company. However, Zoom’s recent proliferation has been fueled in part by works needing to work and communicate from home due to the pandemic. Once that crisis serenities, Five9′ s contact centre business will be supported another revenue stream.

While most of its produces are aimed at enterprises, Zoom has also hugged the consumer side of things. Last-place year, the company secreted a new list of commodities called Zoom for Home, with both software and a line of equipment designs. While those products are aimed at employees succeeding from residence, they can also be used by consumers looking for a reliable video announcing arrangement.

Read more: engadget.com

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