Zoom Sets Sights on Contact Center Space with Five9 Acquisition

Over the last year and change, one of the most prominent narratives rippling from industry to industry was creating a work from home culture. At the forefront of this evolution stood collaboration technology, pushing more organizations to move into the cloud and embrace this brave new world. One of the companies spearheading these efforts is Zoom, and it seems, that was only the beginning for the communications platform.

In an all-stock deal, valued at $14.7 billion, Zoom is diving headfirst into the contact center space with the acquisition of Five9. The purchase puts the collaboration provider in position to compete in a $24 billion market.

“We are continuously looking for ways to enhance our platform, and the addition of Five9 (News - Alert) 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.

Five9 touts a robust intelligent cloud contact center offerings that is highly scalable and secure, and provides a user-friendly experience across a rich set of applications that supports optimal customer interactions spanning a multichannel environment.  

The acquisition plays into Zoom’s long-term growth strategy, representing the prospect of cross-selling to each firm’s customer bases. In addition, it cements Zoom’s leadership in enabling our digital reality today, and creating the roadmap for the future.

“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.”

As far as logistics go, Rowan Trollope remains Five9 CEO while earning the title of President of Zoom, and Five9 will be an operating unit of Zoom.

Is your contact center in the cloud, yet?

Edited by Maurice Nagle