In a separate press release available in the Investor Relations section of the Company`s website under investors.five9.com/, Five9 highlighted its strong foundation and the significant opportunities that lie ahead for us as a standalone company. SAN RAMON, Calif.–(BUSINESS WIRE)–Sept. 30, 2021– Five9, Inc. (NASDAQ: FIVN), a leading provider of intelligent cloud contact center, today announced that its merger agreement with Zoom Video Communications, Inc. (NASDAQ: ZM) has been mutually terminated. The deal did not receive the required number of votes from Five9 shareholders to approve the merger with Zoom. Five9 will continue to operate as an independent listed company. Tom McCallumInvestor Relations Officer for Zoominvestors@zoom.us SAN JOSE, California, Sept. 30, 2021 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (NASDAQ: ZM) announced today that Zoom and Five9 have mutually terminated the merger agreement signed by the parties on July 16, 2021. In July, Zoom announced that it would acquire Five9 in an all-stock transaction worth approximately $14.7 billion. However, the deal did not receive the required number of votes from Five9 shareholders.
Five9 will continue to operate as an independent listed company. Cloud contact center solutions provider Five9 and Zoom Video Communications announced yesterday the termination of their merger agreement. About ZoomZoom is for you. We help you express ideas, connect with others and work towards a future limited solely by your imagination. Our seamless communication platform is the only one that started with video as a foundation, and since then we`ve set the standard for innovation. That`s why we`re an intuitive, scalable, and secure choice for individuals, small businesses, and large businesses. Founded in 2011, Zoom is publicly traded (NASDAQ: ZM) and is headquartered in San Jose, California. Visit zoom.com and follow @zoom. At Five9`s special meeting of shareholders on September 30, 2021, Five9 did not receive the necessary shareholder support for the merger agreement. As a result, Zoom and Five9 each had the option to terminate the merger agreement.
Five9 Press Relations Allison Wilson352-502-9539 firstname.lastname@example.org Five9 Investor Relations Barry ZwarensteinFinancial Director 925-201-2000 ext. 5959 email@example.com Zoom Video Communications Inc. and Five9 Inc. have agreed to cancel their merger, the companies announced Thursday. Press RelationsColleen RodriguezGlobal Public Relations Manager for Zoompress@zoom.us Dow Jones Newswires is a market-driven source of financial and economic information used by asset managers, institutional investors and fintech platforms around the world to identify trading and investment opportunities, strengthen advisor-client relationships, and create investor experiences. Find out more. Forward-Looking StatementsThis press release contains “forward-looking statements” express and implied within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Zoom`s strategic priorities, market opportunities, product launches, expected benefits of new products, growth strategy, partnerships and expected benefits thereof, as well as business efforts, organizations and people on multiple fronts. if they want to redesign the work. Communication and collaboration. In some cases, you may identify forward-looking statements by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “may,” “plan,” “project,” “will,” “should,” “could,” “may,” “predict,” “potential,” “target,” “explore,” “continue” or the negative of such terms and similar expressions that are intended to identify forward-looking statements. Other risks and uncertainties that could cause actual results to differ materially from those contemplated in the forward-looking statements are included under the heading “Risk Factors” and elsewhere in our most recent filings with the Securities and Exchange Commission (the “SEC”), including our Quarterly Report on Form 10-Q for the quarter ended July 31. 2021.
Forward-looking statements are made only as of the date they are made and are based on information available to Zoom at the time such statements are made and/or on the good faith of management at that time with respect to future events. Zoom assumes no obligation to update any forward-looking statements to reflect events or circumstances subsequent to the date they are made, except as required by law. Stocks that are expected to return include PayPal, Paycom, Etsy, and SolarEdge. “Today`s customers want a single communications workspace from which they can manage all their communications in meeting, messaging, voice, and contact centers. That`s why I can always imagine Zoom trying to buy a contact center solution instead of building it from scratch,” Walker continued. Developing a complete enterprise-class CCaaS product would only set them back even further. Either way, I know I`ll wait and see what your next step in the business will be. According to Yuan, Video Engagement Center will be a flexible and easy-to-use solution that will connect businesses and their customers. The announcement comes about a week after the Wall Street Journal reported that the Justice Department-led group was investigating the proposed deal about potential national security risks due to Zoom`s relationship with China. See source version on businesswire.com: www.businesswire.com/news/home/20210930006016/en/ “The contact center is the new gateway for enterprises, and as the market moves from on-premises to the cloud and digital transformation accelerates, we believe we can build on that momentum and gain market share,” Trollope added. While we are excited about the benefits this transaction would bring to Zoom and Five9 stakeholders, including the long-term potential for both shareholder groups, financial discipline is fundamental to our strategy,” he said in a statement. “The contact center market remains a strategic priority for Zoom, and we are confident that we can realize its growth potential.
Five9 is a leading provider of cloud contact center solutions that delivers the power of cloud innovation to more than 2,000 customers worldwide, enabling billions in customer engagement each year. The Five9 intelligent cloud contact center provides digital engagement, analytics, workflow automation, workforce optimization, and convenient AI to help customers reshape their customer experience. Designed to be reliable, secure, compliant, and scalable, the Five9 platform helps increase agent and supervisor productivity, connect the contact center to the business, and ultimately deliver tangible business results, including increased revenue and improved customer trust and loyalty. “Since the announcement of the transaction, we have had the opportunity to work closely with our shareholders. We greatly appreciate their feedback and confidence in Five9`s future prospects and share their views on the significant potential for value creation as a standalone company,” Rowan Trollope, CEO of Five9, said in a statement. But contrary to Walker`s expectations, Zoom has been working on its own contact center technology. The company is expected to launch Zoom Video Engagement Center, a cloud-based contact center solution, in early 2022. Trollope also expressed confidence in Five9`s ability to create ongoing value with its stakeholders. While this deal is now off the table, industry insiders expect Zoom to continue pursuing similar deals. Blueshirt Group for Five9, Inc.Lisa Laukkanen415-217-4967 firstname.lastname@example.org “Five9 has developed a differentiated, industry-leading cloud contact center platform that has transformed the way businesses interact with their customers,” he said. “In recent months, we have continued to grow relentlessly in the market. With a focus on product innovation, excellence in go-to-market, and a strong and evolving partner ecosystem, we continue to strengthen our relationships with our customers and bring new businesses to the Five9 platform.