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A to Z Full Forms and Acronyms

Zoom announces to acquire cloud-based call center operator "Five9" for $15 billion.

Zoom decided to acquire the cloud-based call center operator ''Five9''

Zoom, a Video calling app intending to spend $15 billion to purchase cloud-based call center operator Five9 Inc. It is believed to be one of the largest investments of Zoom. It is expected that with this investment the company wants to expand its collaboration with enterprises as the firm helps Zoom to incorporate its contact centre software allowing optimization of clients' communications across channels. Currently, Five9 has offered its services to Under Armour, Lululemon Athletica Inc, and Olympus Corp.

The purchase will speed up the enterprise's long expansion by integrating the $24 billion contact centre industry. Various clients of the firm will be engaged to Zoom due to this acquisition, according to founder and CEO Eric Yuan in a statement. If everything goes right then the chief executive of Five9, Rowan Trollope, will become the chief of the operating unit of Zoom 'Five9'. Recently, Zoom also came into the limelight when its stock increased 1.4 per cent to $361.97 last Friday, valuing the firm at about $106 billion.

The investment in Cloud-based call centre service providers is rising to a great extent. 

Over the past year, the usage of Zoom rose as several offices and colleges started conducting video conference calls on Zoom. The reason behind this sudden surge in usage is said to be the seismic shift to work from home culture. 

Due to this seismic shift, many global tech giants are nowadays focusing on investing in cloud-based call centre operating firms to attract more clients to their platform. It is expected that the investment in cloud-based conferencing start-ups will reach up to $5.41 billion by the end of 2021, and Zoom and Cisco are said to be one of the top investors as they've invested a huge sum of money in this sector.

A to Z Full Forms and Acronyms

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