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Zoom to buy cloud-based call center operator Five9 in $15 billion deal
07/19/2021 4:52
(Reuters) -Zoom Video Communications Inc announced a $14.7 billion all-stock deal to buy cloud-based call center operator Five9 Inc in its largest-ever acquisition, as competition intensifies in its core videoconferencing sector.
The teleconferencing services provider has become a household name and investor favorite in the year since the coronavirus pandemic, as businesses and schools adopted its services to hold virtual classes, office meets and socialise.
The San Jose, California-based company is now shifting focus to its two-year-old cloud-calling product Zoom Phone and conference-hosting product Zoom Rooms as bigger players Facebook and Alphabet s Google amp up their video products.
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Zoom launches $100m fund to invest in apps using its technology
By Reuters
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Zoom Video Communications Inc on Monday said it has created a $100 million fund to invest in startup software companies that build apps using its technology.
The video conferencing company has become a household name during the pandemic as businesses and schools shifted to its platform, along with rival platforms such as Microsoft Corp s Teams and Cisco Systems Inc s Webex.
Zoom Chief Financial Officer Kelly Steckelberg told Reuters that the fund will make investments of between $250,000 and $2.5 million into companies building Zoom Apps that plug into the company s video conferencing software to add new features to it.