Direxion 3X Russell Funds (TNA)

[3xBuBu]

Zoom Acquisition of Five9 Collapses After Shareholders Vote it Down

https://finance.yahoo.com/m/46eb24d5-c1ae-3196-adb4-8500a7a30d65/zoom-acquisition-of-five9.html


Videoconferencing giant Zoom Video Communications and cloud-based contact center software company Five9 have agreed to terminate their merger agreement, the companies said Thursday afternoon. The merger didn’t receive enough votes from Five9 shareholders, according the companies, and the company will continue to operate as a stand-alone publicly traded company.

“The contact center market remains a strategic priority for Zoom, and we are confident in our ability to capture its growth potential,” said Eric Yuan, CEO and founder of Zoom, in a statement. He notes that the firm will launch its cloud-based contact center solution, the Zoom Video Engagement Center, in early 2022. The firm will also maintain its existing contact center partnerships with companies like Five9, Genesys, NICE inContact, Talkdesk, and Twilio .

Zoom (ticker: ZM) first announced plans to acquire Five9 (FIVN) for $14.7 billion in an all-stock deal in July. The move was designed to help the company become a major player in call center software.



_
..
..