Video-first UCaaS provider Zoom’s much-analyzed plan to acquire CCaaS provider Five9, announced two months ago, is off the table.
Thursday, Sept. 30, Five9 held a special meeting of stockholders to vote on the fate of the proposed merger, and didn’t receive the required number of votes for approval. As a result, Zoom and Five9 have mutually agreed to terminate the merger.
As a reminder, as announced in mid-July, Zoom intended to acquire Five9 in an all-stock deal where Five9 shareholders would receive 0.5533 shares of Zoom per share of Five9. At the time, this equated to a conversion price of about $200 per share for a total purchase price of $14.7 billion.
