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Zoom Cloud Meetings, a proprietary video teleconferencing software program (developed by Zoom Video Communications) has bought Five9, a cloud contact center software company, for $14.7 billion! Here are all the details:

Five9

About Five9

Five9 is the leading provider of cloud contact center software. Five9 is driven by a passion to transform contact centers into customer engagement centers of excellence, coupled with a deep understanding of the cost and complexity involved in running a contact center.

Five9
Source: Five9

GlobeNewswire expresses the combination of Zoom’s robust communications platform with Five9’s intelligent cloud contact center will enable organizations to reimagine the way they engage with their customers.

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,” said Eric S. Yuan, Chief Executive Officer and Founder of Zoom.

Zoom is built on a core belief that robust and reliable communications technology enables interactions that build greater empathy and trust, and we believe that holds particularly true for customer engagement. Enterprises communicate with their customers primarily through the contact center, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers. We are thrilled to join forces with the Five9 team, and I look forward to welcoming them to the Zoom family.

Rowan Trollope, Chief Executive Officer of Five9 says, “Businesses spend significant resources annually on their contact centers, but still struggle to deliver a seamless experience for their customers,” he further added:

“It has always been Five9’s mission to make it easy for businesses to fix that problem and engage with their customers in a more meaningful and efficient way. Joining forces with Zoom will provide Five9’s business customers access to best-of-breed solutions, particularly Zoom Phone, that will enable them to realize more value and deliver real results for their business. This, combined with Zoom’s ‘ease-of use’ philosophy and broad communication portfolio, will truly enable customers to engage via their preferred channel of choice.”

Five9 is Zoom’s first billion-dollar acquisition making it historic for the company. Furthermore the combination also offers both Zoom and Five9 significant cross-selling opportunities for each other’s respective customer bases. After the final transaction Five9 will become an operating unit of Zoom. Rowan Trollope will become President of Zoom and continue as CEO of Five9, reporting to Eric Yuan.