On Sunday Zoom cloud App released a statement which said that, “Five9 will become an operating unit of Zoom and its chief executive, Rowan Trollope, will become a president of Zoom and will also continue to be the chief of the unit deal in which it is expeceted that the deal will close by 2022.”
On Sunday via teleconferance with the service provider said that, Zoom Video Communications Inc said that it has struck a deal to buy a cloud software which may be a provider Five9 Inc in an all-stock which is able to be at a transaction valued at about $14.7 billion.
The statement which was recorded was under the pact of which it has been approved by all the boards which includes both companies for which Five9 stockholders will receive 0.5533 shares as for Class A common stock of Zoom on each share invested under the share of Five9 software.
As on July 16, closing share price for the app is at $200.28 for each share of Five9 common stock, and an implied deal value of about $14.7 billion.
Zoom has now been familiar in almost every household due to the pandemic around the world and it for the same reason, it has been investors’ favourite choice video conferencing app. Starting from schools to office everywhere the app has come out to be very useful for official and unofficial social acquaintance.