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Zoom and Five9 agree to terminate acquisition plan

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Eric Yuan is the founder and chief executive of Zoom Video Communications Inc.

Bloomberg | Bloomberg | Getty Images

Company offering cloud contact center software Five9Software for video calling ZoomZoom and Five9’s acquisition plan for $14.7 Billion was canceled by the company on Thursday.

Extended trading saw five9 shares fall 2% following the announcement. statementThe companies stated that the agreement failed to receive enough votes by Five9 shareholders.

One week later, the news came from media outlets reportedThe deal was being reviewed by a U.S. Government committee on national-security grounds.

This is the latest news. Stay tuned for new updates.

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