Five9 receives takeover interest, but not pursuing acquisition by Zoom
CALIFORNIA, UNITED STATES — Call center software provider Five9 has received new takeover interest, around two years after it terminated a planned $14.7 billion acquisition by video communications firm Zoom.
Citing people familiar with the matter, Bloomberg reported that Five9 is working with advisers to assess interest from potential buyers. The company has already held talks with Zoom about reviving a deal.
On the other hand, Five9 responded to the “market rumors” and clarified that they are not pursuing any such acquisition.
In 2021, Zoom sought to acquire Five9 to expand its offerings into the lucrative enterprise customer service market. However, Five9 shareholders rejected Zoom’s all-stock offer after a drop in Zoom’s share price amid declining pandemic demand slashed the deal’s value.
Five9’s cloud-based software leverages artificial intelligence (AI) and automation to help companies optimize customer interactions across channels.
With around 2,500 employees globally, Five9 works with thousands of customers including leading brands like BISSELL across sectors such as homecare, retail, healthcare, financial services, and telecom.
The company ranked #27 at the Time Doctor OA500, an index of the world’s top 500 outsourcing firms, with $230 million in Q3 2022 revenues.
