Zoom’s $14.7B acquisition bid for Five9 falls apart
Zoom’s $14.7 billion bid to acquire Five9, announced on July 18, has been rejected by cloud-contact center company’s shareholders.
In a statement yesterday, Five9 said the deal was “terminated by mutual agreement,” and since the deal “did not receive the requisite number of votes to approve the merger” Five9 will continue to operate as a standalone company.
Zoom CEO Eric Yuan said in a statement that while the company had looked forward to the potential partnership, “financial discipline is foundational to our strategy.” He said Zoom will continue to look for ways to boost value for shareholders and customers.