Google Meet rival Zoom buys out Five9 in $15 billion deal

Google Meet and MS Teams fierce rival Zoom Video Communications Inc has agreed to buy cloud software provider Five9 Inc in an all-stock deal worth about $14.7 billion to target business clients looking to boost customer engagement , it said on Sunday.

Teleconferencing services provider Zoom has become a household name and investor favourite in the year since the coronavirus pandemic , as businesses and schools adopted its services to hold virtual classes , office meets and socialise.

The San Jose , California-based company is now shifting focus to its two-year-old cloud-calling product Zoom Phone and conference-hosting product Zoom Rooms as bigger players Facebook and Alphabet’s Google amp up their video products.