Zoom to acquire call center software developer Five9 for €12.5 billion

Video chat service Zoom acquires Five9 for 14.7 billion dollars, approximately 12.5 billion euros. Five9 is a company that develops cloud software for call and contact centers. It is Zoom’s largest acquisition to date.

Zoom will pay the 14.7 billion in full with shares. The acquisition is expected to be completed in the first half of 2022, Zoom reports. The companies have reached an agreement, but Five9 shareholders and regulators have yet to approve the deal. The video calling platform says it expects the Five9 acquisition to help the company “increase its presence with customers.”

The company also wants to focus on the contact center market with the acquisition. According to the platform, the acquisition would also be a good fit for Zoom Phone. This is a cloud service that should form a business alternative to regular telephony.

Founded in 2001, Five9 makes cloud software that is used by call and contact centers to, for example, train employees and provide them with information to help customers. The company’s software can also automatically transfer customers to relevant call center agents and provides virtual assistants for callers.

The contact center platform will become an operating unit within Zoom after the acquisition, and Five9 CEO Rowan Trollope will become a president at Zoom and also retain his position within Five9, the company reports.

It is the largest acquisition by Zoom to date. The company previously acquired cryptography platform Keybase. It is not known what amount Zoom has paid for this. Last month, Zoom acquired the German start-up Kites. That is a company that is working on software that offers real-time translations through machine learning.