Zoom Video Communications, Inc. – whose video conferencing service became a staple during the coronavirus pandemic, plans to purchase cloud-based software company Five9 in an all-stock deal valued at $14.7 billion.
ZOOM VIDEO COMMUNICATIONS, INC.
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The deal will accelerate Zoom's "long-term growth opportunity" by tapping into the $24 billion contact center market, the San Jose, California company said.
As a result, the company projects that it will be able to "transform how businesses connect with their customers" even as consumers shy away from computer screens and head back to classrooms and office buildings.