Zoom, a video conferencing platform, has announced the acquisition of Five9, a cloud contact center software firm, for $14.7 billion. Zoom CEO Eric Yuan said in the announcement, “We are constantly searching for ways to expand our platform, and the inclusion of Five9 is a logical fit that will offer even more happiness and value to our users.” He went on to say that the transaction will expand Zoom’s customer base and that Five9 is “complementary” to its Zoom Phone cloud solution.

According to the terms of the agreement, Five9 will become an operating unit of Zoom, with CEO Rowan Trollope reporting to Yuan as president. Five9’s full-year revenue increased by 33% year over year to $435 million in 2020.

According to the terms of the agreement, Five9 will become an operating unit of Zoom, with CEO Rowan Trollope reporting to Yuan as president. Five9’s full-year revenue increased by 33% year over year to $435 million in 2020.

Since the start of pandemic lockdowns last year, Zoom’s stock price has more than tripled, but its growth has slowed slightly. Zoom’s revenue increased 326 percent in 2020, while it increased 191 percent to $956 million in the first quarter of 2021.