July 21, 2021 | Technology | North America | Ended
Zoom, the video-conferencing platform that experienced outsized growth during the Covid-19 pandemic, has made a definitive, all-share offer to buy cloud-based contact centre software operator Five9, as it looks to boost its appeal outside of its core offering and expand its presence with enterprise customers. Based on the companies’ undisturbed trading prices, the offer valued Five9 at $14.7bn, or $200.28 per share, a relatively mild one-day takeover premium of 13%. Under the deal terms, agreed by the boards of both companies, the transaction requires approval from a majority of Five9 shareholders, but no vote is needed from Zoom shareholders. The preliminary proxy is expected to be filed within 30 days (by 15-Aug-21) and the Five9 shareholder meeting will be held within ...
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