Zoom wagers billions on hybrid working in the acquisition of Five9.
In a huge bet on the future of hybrid working, a video conferencing firm called Zoom just completed a multibillion-dollar acquisition of a cloud-based call centre company.
Five9 was acquired by the firm for $14.7 billion on Sunday, as stated in a blog post.
Customers of Zoom could now “reimagine how they do business.”
It’s the company’s biggest takeover, and even though employees are returning to work, the deal still gets done.
Investors have been on the lookout for evidence as to how the company will do under an increasingly relaxed social distancing policy, as more people get vaccinated.
The rapid spread of the pandemic necessitated the widespread adoption of remote work, which transformed Zoom into a household name overnight.
Based on current trends, Zoom does not anticipate that growth will continue at the pace it did last year, but so far the company is still doing well.
This year, sales are expected to rise more than 40 percent, rising to approximately $3.7 billion USD.
According to March, sales in the last three months of 2020 increased 370% compared to the same period in 2019, reaching $882.5 million.