Five9 investors declined Zoom’s acquisition since the deal did not properly worth the cloud contact center software application business, Five9’s president stated Friday.
Five9’s CEO Rowan Trollope appeared on CNBC’s “Mad Money” after the handle Zoom worth $147 billion stopped working.
“We had to ultimately let the shareholders vote and they made it clear that … the offer from Zoom wasn’t going to cut it,” Trollope stated.
The all-stock contract revealed in July would have been among the biggest tech offers of the year. Zoom’s stock has actually struggled this year, down more than 50% from its highs notched in October 2020.
“There’s no acrimony. It is what it is,” Trollope stated about Five9’s relationship with Zoom moving on. “We are parting ways amicably.”
The news release revealing the offer termination stated, “Zoom and Five9 will continue the partnership that was in place prior to the announcement, which includes support for integrations between their respective Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) solutions and joint go-to-market efforts.”
Five9’s president repeated the 2 business will continue to team up.
“We will partner with them and look forward to, of course operating, independently,” Trollope stated.
