Zoom buying Five9 in $14.7B all-stock transaction

UNDATED (AP) — Videoconferencing service Zoom is buying the cloud call center company Five9 in an all-stock deal valued at about $14.7 billion. Zoom Video Communications Inc. founder and CEO Eric Yuan says in a blog post that the acquisition will allow the company to accelerate its long-term growth by adding the $24 billion contact center market. The executive adds that the deal also complements the Zoom Phone, which is seeing strong demand.