Zoom to buy cloud software provider Five9 in $15 billion deal

This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEH6I01B_L.jpg

Five9 will become an operating unit of Zoom and its chief executive, Rowan Trollope, will become a president of Zoom and stay on as chief of the unit after the deal, which is expected to close in the first half of 2022, it said in a statement.

Under the pact, approved by the boards of both companies, Five9 stockholders will receive 0.5533 shares of Class A common stock of Zoom for each share of Five9, it added.

Based on the July 16 closing share price of Zoom Class A common stock, this represents a price of $200.28 for each share of Five9 common stock, and an implied deal value of about $14.7 billion.

Zoom has become a household name and investor favorite in the year since the coronavirus pandemic, as businesses and schools adopted its services to hold virtual classes, office meets and socialise.

Add Comment