RTTNews | Jul 18, 2021 10:12PM EDT

22:11 Sunday, July 18, 2021 (RTTNews.com) - Zoom Video Communications Inc. (ZM) agreed to buy Five9 Inc. (FIVN), a provider of the intelligent cloud contact center, in an all-stock transaction valued at about $14.7 billion.

Rowan Trollope, Chief Executive Officer of Five9, will become a President of Zoom and continue as CEO of Five9, Zoom said in a statement on Sunday.

As part of the deal, Five9 stockholders will receive 0.5533 shares of Class A common stock of Zoom for each share of Five9. Based on the closing share price of Zoom Class A common stock as of July 16, 2021, it represents a per share price for Five9 common stock of $200.28 and an implied transaction value of about $14.7 billion.

The deal is anticipated to close in the first half of calendar year 2022. It is subject to approval by Five9 stockholders, the receipt of required regulatory approvals and other customary closing conditions.

FIVN closed Friday regular trading at $177.60 up $1.02 or 0.58 percent.

Read the original article on RTTNews ( https://www.rttnews.com/3209798/zoom-to-buy-cloud-software-provider-five9-in-14-7-bln-stock-for-stock-deal.aspx)

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