KUALA LUMPUR, Oct 1 (Bernama) -- Zoom Video Communications Inc has announced that Zoom and Five9 have mutually terminated the merger agreement executed by the parties on July 16.
At Five9’s special meeting of stockholders held on Sept 30, Five9 did not obtain the requisite stockholder support for the merger agreement. As a result, Zoom and Five9 each had the ability to terminate the merger agreement, according to a statement.
“While we were excited about the benefits this transaction would bring to both Zoom and Five9 stakeholders, including the long-term potential for both sets of shareholders, financial discipline is foundational to our strategy,” said Zoom Chief Executive Officer and Founder, Eric S. Yuan.
“At Zoomtopia, we announced the Zoom Video Engagement Center, our cloud-based contact center solution, which will launch in early 2022. Video Engagement Center will be a flexible, easy-to-use solution that connects businesses and their customers.
“We also plan to maintain our valued existing contact center partnerships with companies like Five9, Genesys, NICE inContact, Talkdesk, and Twilio.
“We remain focused on driving long-term value creation for Zoom shareholders and delivering happiness to our customers through our broad-based communications platform including unified communications, developer, and events solutions,” he added.
Founded in 2011 and headquartered in San Jose, California, Zoom is an intuitive, scalable, and secure choice for individuals, small businesses, and large enterprises alike.
-- BERNAMA
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