Editor’s note (September 30, 2021): On September 30, 2021, Zoom and Five9 mutually terminated the merger agreement referenced in this blog post. Please see this updated post for more information.
As Zoom’s CEO, I am excited to announce that we’ve reached an agreement to acquire Five9, a leading provider of the intelligent cloud contact center. Additional details about this news are available in our press release.
We continuously look 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.
We expect that this acquisition will help enhance Zoom’s presence with customers and allow us to accelerate our 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. Combining Five9’s Contact Center as a Service (“CCaaS”) solution with Zoom’s broad communications platform will transform how businesses connect with their customers, building the customer engagement platform of the future.
The trend toward hybrid work models has accelerated over the last year, advancing contact centers’ shift to the cloud and increasing demand by customers for customized and personalized experiences. Today, enterprises not only need to enable customers to engage via their preferred channel, they need to empower their teams to accomplish more, and do so with empathy, purpose, and connection. We truly believe that together, we will enable customers to reimagine the way they do business and deliver exceptional results.
We’ve already seen strong demand for Zoom Phone, our modern, cloud phone system that offers a digital alternative to legacy phone offerings, enabling organizations to connect and interact in new and convenient ways to keep businesses moving. This acquisition is complementary to the growing popularity of our Zoom Phone offering, positioning us to accelerate Zoom’s growth and play an even stronger role in driving the digital future, bringing companies and their customers closer together.
As long-standing partners with Five9, we know first-hand what their fantastic team is capable of. We also know that our organizations each share a common culture of obsession with customer happiness -- and our collective focus and drive will be instrumental as we build a future together.
Importantly, we recognize that an open partner ecosystem is a key benefit of Zoom -- it drives innovation and ensures customers have more choice and flexibility to meet their unique needs. We expect to maintain our partnerships in order to continue supporting customers’ contact center of choice.
This is only the first step in a process. The transaction, which is expected 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.
We are thrilled to welcome Five9 to the Zoom family!