Five9, cloud-based software provider, contemplates sale

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Five9, cloud-based software provider, contemplates sale
Five9, cloud-based software provider, contemplates sale

Five9 is working with experts to assess possible buyers’ interest, and the company has already initiated talks with Zoom about perhaps restarting a deal.

Call center software firm Five9 is weighing options for a sale, more than two years after a buyout by Zoom Video Communications failed, according to a statement on Monday.

Five9’s shares closed more than 7% higher following the news, giving it a market capitalization of $6.2 billion. Five9 is working with advisers to gauge interest from potential buyers, adding that the company has already held discussions with Zoom about possibly resurrecting a deal and is likely to attract other strategic suitors.

Five9 is working with consultants to evaluate interest from potential purchasers, and the company has already held negotiations with Zoom about perhaps resurrecting a deal and is likely to draw additional strategic contenders.

Deliberations were ongoing, and there was no guarantee that they would end in a sale, according to a report.

Zoom’s $14.7 billion acquisition of Five9 was cancelled in October 2021 after the company’s shareholders voted against the deal.

What would have been Zoom’s largest purchase ever was cancelled after proxy consulting firms Institutional Shareholder Services (ISS) and Glass Lewis expressed worries about expansion and advised Five9 shareholders to reject the deal.

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