Zoom Video Communications and Five9 have terminated the USD 14.7 billion merger deal they announced in July. The decision became mutual after Five9 did not get the shareholder support it needed under the agreement, the companies said. Five9 provides intelligent cloud contact centre services.
Zoom CEO Eric Yuan said that while the company had been “excited” about the benefits the transaction would bring, “financial discipline is foundational to our strategy.”
The CEO said the contact centre market will remain a strategic priority and that the company is confident in its ability to capture its growth potential. The company is building the Video Engagement Center it announced at Zoomtopia, and will also maintain existing contact contact centre partnerships with companies like Five9, Genesys, NICE inContact, Talkdesk, and Twilio.
