After experiencing huge growth during the COVID-19 pandemic, Zoom made its first major acquisition including the company’s Five9 cloud contact center for $ 14.7 billion, announced. The move will allow Zoom to expand into call center technology by up to $ 24 billion, diversifying its products once employees begin to return to the office after the pandemic.
Five9 will become a Zoom operating unit when the business is closed, probably in the first half of 2022. “We are continuously looking for ways to enrich our platform and the addition of Five9 is a natural measure that will give even more … value for our customers, ”said Eric Yuan CEO of Zoom in a statement.
Five9 is a 20-year-old company with 2,000 customers worldwide, including SalesForce and Under Armor, and processes more than 7 billion minutes of calls a year. Zoom notes that it was already a “long-term” customer of Five9 and said the collaboration will give Five9 business customers access to Zoom products as a cross-platform. Zoom Phone app.
The purchase won’t have much of an impact on consumers, since Five9 is largely a business-to-business company. However, Zoom’s recent growth has been fueled in part by employees who need to work and communicate from home because of the pandemic. Once the crisis eases, Five9’s contact center business provides another stream of revenue.
While most of its products are aimed at businesses, Zoom has also embraced the consumer side of things. Last year, the company released a new product category called Zoom for Home, with software and a line of hardware devices. While these products are intended for employees who work from home, they can also be used by consumers looking for a reliable video calling system.
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