Zoom is buying a cloud company you’ve never heard of before for over CHF 13 billion
The US video service Zoom claims that it is taking over the cloud software manufacturer Five9.
Zoom just closed a purchase agreement with Five9 worth around 14.7 billion dollars (13.5 billion Swiss francs), the company announced on Sunday.
The business will be continued as an operational unit of Zoom under the previous boss of Five9, Rowan Trollope. The deal is expected to be completed in the first half of 2022.
During the pandemic, Zoom has become a synonym for video conferencing for many people in the home office, with which employees can exchange ideas, talk to customers and connect students with teachers. However, the online service came under criticism because of security gaps and concerns from data protectionists.
Five9 is based in the San Francisco Bay Area, more precisely: in San Ramon. The company, founded in 2001, is described on its own website as the “leading provider of contact center software in the cloud”.