Illustration by Alex Castro / The Verge
Five9 will remain independent — its deal to be acquired by Zoom is off. Though a press release from Five9 says it was “terminated by mutual agreement,” it’s also the case that Five9 shareholders rejected the $14.7 billion deal.
Zoom originally announced the acquisition on July 18th. Five9 automates managing customer contacts for businesses, and the deal was supposed to bolster Zoom’s business offerings. Its major competitors are behemoths like Microsoft and Google, and the deal would have helped the smaller company expand.
This was supposed to be an all-stock transaction, but unfortunately for Zoom, its stock price has lost more than a quarter of its value since they announced the acquisition. Usually, when a company is bought,…