San Francisco – July 19, 2021 – Cooley advised Zoom Video Communications on its agreement to acquire Five9, a leading provider of the intelligent cloud contact center, in an all-stock transaction valued at approximately $14.7 billion. Jamie Leigh, Ben Beerle, Anne Lieberman and Jon Avina led the Cooley team advising Zoom on the transaction.
Combining Five9’s contact center as a service solution with Zoom’s broad communications platform will transform how businesses connect with their customers, building the customer engagement platform of the future. The acquisition is expected to help enhance Zoom’s presence with enterprise customers and allow it to accelerate its long-term growth opportunity by adding the $24 billion contact center market.
“We are continuously looking for ways to enhance our platform, and the addition of Five9 is a natural fit that will deliver even more happiness and value to our customers,” Eric S. Yuan, chief executive officer and founder of Zoom, said in a news release. “Zoom is built on a core belief that robust and reliable communications technology enables interactions that build greater empathy and trust, and we believe that holds particularly true for customer engagement. Enterprises communicate with their customers primarily through the contact center, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers. We are thrilled to join forces with the Five9 team, and I look forward to welcoming them to the Zoom family.”
Founded in 2011, Zoom is headquartered in San Jose, California. Cooley advised the company on its $864 million initial public offering in April 2019. Its Class A common stock trades on the Nasdaq Global Select Market under the symbol “ZM.”
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