Online conferencing leader Zoom has announced it will buy Five9

Zoom Video Communications Inc. has agreed to acquire Five9 Inc. for $14.7 billion in cash, adding a cloud-based call center and contact management provider that has been in an acquisition stage as the video conferencing specialist tries to build your software as an empire of services.

Zoom video announced the deal on Sunday and agreed to pay Five9 investors. They will be paid for with Zoom Class A shares. The value of it will be around 0.5533 shares. After the deal is signed, it reads that Five9 is now part of the shares and will be until mid-2022.

Zoom, which has long offered online video conferencing software, has been working for years to adjust its products to distance learning and remote work trends. In the global pandemic, it was the software that everyone used for their work. However, now people have started to return to offices, which means that the video calling platform will not be used much. However, the Five9 deal may prove vital for Zoom and may bring in as much as $24 billion in the market.

“Zoom is committed to continually improving its quality of service,” said Zoom CEO eric yuan saying. “Five9 is a natural fit for our platform and will help us continue to provide world-class customer service well into the future.” she added. Even Five9’s owners are happy with this deal, stating that “Zoom and Five9 are teaming up because it makes sense – our customers have a lot in common. We have a shared commitment to customer satisfaction. And I am confident that, together, we will create the best solutions for your business.”

Both companies have been working to provide the best services to people during this pandemic. And now it seems that both will give their best to improve their services even more.

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