Zoom is all set to acquire the cloud contact center software company Five9 for $14.7 Billion, marking Zoom’s first billion-dollar acquisition.
With the integration of Five9, Zoom is hoping to provide ‘Seamless Engagement’ through its suite of user-friendly software.
CEO Eric Yuan in a recent blog spoke about the acquisition, he said,
“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”.
Hoping to ride the hybrid workforce trend, the company is looking to continue its pandemic-infused momentum through this acquisition. The CEO said,
“The trend towards a hybrid workforce has accelerated over the last year, advancing contact centers’ shift to the cloud and increasing demand by customers for customized and personalized experiences,”
Read more about this topic, in this article.
Zoom’s momentum in the early stages of the pandemic was more than apparent, with its stock price almost tripled since the lockdown began.
However, with the growth starting to stagnate this year, do you think this acquisition will help rebound Zoom’s momentum? Share your thoughts below.