Zoom and Five9 drop US$14.7 billion merger amid US security review over video-conference app’s operations in China

//Zoom and Five9 drop US$14.7 billion merger amid US security review over video-conference app’s operations in China

Zoom and Five9 drop US$14.7 billion merger amid US security review over video-conference app’s operations in China

Zoom Video Communications and cloud-based customer service provider Five9 called off their US$14.7 billion merger overnight on Friday, weeks after the US Department of Justice called for a national security review and an influential proxy adviser recommended against the deal because of Zoom’s China ties.The companies said they “mutually agreed” to terminate the transaction after not enough of Five9’s shareholders voted in favour of the transaction.“We had the opportunity to engage extensively…

Article by [author-name] (c) Big Tech - South China Morning Post - Read full story here.

By | 2021-10-01T03:09:10+00:00 October 1st, 2021|Technology|Comments Off on Zoom and Five9 drop US$14.7 billion merger amid US security review over video-conference app’s operations in China