Zoom Announces Termination of Merger Agreement with Five9
30 Septiembre 2021 - 5:52PM
Zoom Announces Termination of Merger Agreement with Five9
Zoom Video Communications, Inc. (NASDAQ: ZM) today announced that
Zoom and Five9 have mutually terminated the merger agreement
executed by the parties on July 16, 2021.
At Five9’s special meeting of stockholders held on September 30,
2021, Five9 did not obtain the requisite stockholder support for
the merger agreement. As a result, Zoom and Five9 each had the
ability to terminate the merger agreement.
“While we were excited about the benefits this transaction would
bring to both Zoom and Five9 stakeholders, including the long-term
potential for both sets of shareholders, financial discipline is
foundational to our strategy,” said Eric S. Yuan, Chief Executive
Officer and Founder of Zoom. “The contact center market remains a
strategic priority for Zoom, and we are confident in our ability to
capture its growth potential. At Zoomtopia, we announced the Zoom
Video Engagement Center, our cloud-based contact center solution,
which will launch in early 2022. Video Engagement Center will be a
flexible, easy-to-use solution that connects businesses and their
customers. We are building this new solution with the same
scalability and trusted architecture that has made Zoom the
platform of choice for businesses around the world. We also plan to
maintain our valued existing contact center partnerships with
companies like Five9, Genesys, NICE inContact, Talkdesk, and
Twilio. We remain focused on driving long-term value creation for
Zoom shareholders and delivering happiness to our customers through
our broad-based communications platform including unified
communications, developer, and events solutions.”
About ZoomZoom is for you. We help you express
ideas, connect to others, and build toward a future limited only by
your imagination. Our frictionless communications platform is the
only one that started with video as its foundation, and we have set
the standard for innovation ever since. That is why we are an
intuitive, scalable, and secure choice for individuals, small
businesses, and large enterprises alike. Founded in 2011, Zoom is
publicly traded (NASDAQ: ZM) and headquartered in San Jose,
California. Visit zoom.com and follow @zoom.
Forward-Looking StatementsThis press release
contains express and implied “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding Zoom’s strategic priorities,
market opportunity, product launches, the expected benefits of new
products, growth strategy, partnerships and expected benefits from
the same, and business aspirations to support organizations and
people on multiple fronts as they look to reimagine work,
communications and collaboration. In some cases, you can identify
forward-looking statements by terms such as “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“project,” “will,” “would,” “should,” “could,” “can,” “predict,”
“potential,” “target,” “explore,” “continue,” or the negative of
these terms, and similar expressions intended to identify
forward-looking statements. By their nature, these statements are
subject to numerous uncertainties and risks, including factors
beyond our control, that could cause actual results, performance or
achievement to differ materially and adversely from those
anticipated or implied in the statements, including: declines in
new customers and hosts, renewals or upgrades, difficulties in
evaluating our prospects and future results of operations given our
limited operating history, competition from other providers of
communications platforms, continued uncertainty regarding the
extent and duration of the impact of COVID-19 and the responses of
government and private industry thereto, including the potential
effect on our user growth rate once the impact of the COVID-19
pandemic tapers, particularly as a vaccine becomes widely
available, and users return to work or school or are otherwise no
longer subject to shelter-in-place mandates, as well as the impact
of COVID-19 on the overall economic environment, any or all of
which will have an impact on demand for remote work solutions for
businesses as well as overall distributed, face-to-face
interactions and collaboration using Zoom, delays or outages in
services from our co-located data centers, and failures in internet
infrastructure or interference with broadband access which could
cause current or potential users to believe that our systems are
unreliable. Additional risks and uncertainties that could cause
actual outcomes and results to differ materially from those
contemplated by the forward-looking statements are included under
the caption “Risk Factors” and elsewhere in our most recent filings
with the Securities and Exchange Commission (the “SEC”), including
our quarterly report on Form 10-Q for the fiscal quarter ended July
31, 2021. Forward-looking statements speak only as of the date the
statements are made and are based on information available to Zoom
at the time those statements are made and/or management's good
faith belief as of that time with respect to future events. Zoom
assumes no obligation to update forward-looking statements to
reflect events or circumstances after the date they were made,
except as required by law.
Press RelationsColleen RodriguezGlobal Public
Relations Lead for Zoompress@zoom.us
Investor RelationsTom McCallumHead of Investor
Relations for Zoominvestors@zoom.us
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