Zoom to buy cloud-based call centre

SAN JOSE, Cal. — Zoom Video Communications Inc struck a US$14.7-billion all-stock deal to buy cloud-based call centre operator Five9 Inc. in its largest-ever acquisition, as it looks to expand beyond its core videoconferencing services.

Zoom has become a household name and investor favourite in the year since the coronavirus pandemic, as businesses and schools adopted its services to hold virtual classes, office meets and socialize.

But with rapid vaccination and life creeping back to normality, analysts and investors are looking to see how Zoom will sustain its hot streak of growth, especially with rivals Microsoft Corp., Cisco Systems Inc. and Alphabet Inc.’s Google snapping at its heels.

Five9, whose call centre software is used by more than 2,000 clients across the globe to interact with their clients, counts firms such as Under Armour, Lululemon Athletica Inc and Olympus Corp as customers.