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Five9 Shareholders Reject Zoom Takeover

The $20.3 billion takeover deal of Five9 by Zoom has been rejected by shareholders of the cloud company, which will remain independent.

Five9 says in a press release the deal was “terminated by mutual agreement,” while also stating its shareholders rejected the deal, which was originally announced in mid July.

“Zoom and Five9 will continue the partnership that was in place prior to the announcement,” a press release explains, “which includes support for integrations between their respective Unified Communications as a Service and Contact Center as a Service solutions and joint go-to-market efforts.”

Zoom CEO Eric Yuan says of the failed acquisition, “it presented an attractive means to bring to our customers an integrated contact centre offering. That said, it was in no way foundational to the success of our platform nor was it the only way for us to offer our customers a compelling contact centre solution,” adding that “if one thing is certain here at Zoom, it is that we never rest on our laurels.”

 

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