Call center software firm Five9 is weighing options for a sale, more than two years after a buyout by Zoom Video Communications failed, Bloomberg News reported on Monday, citing people familiar with the matter.
Five9’s shares closed more than 7% higher following the news, giving it a market capitalization of $6.2 billion.
Five9 declined to comment while Zoom did not immediately respond to a Reuters request for comment.
Five9 is working with advisers to gauge interest from potential buyers, Bloomberg reported, adding that the company had already held discussions with Zoom about possibly resurrecting a deal and is likely to attract other strategic suitors.
Deliberations were ongoing and there is no certainty they will result in a sale, the report added.
Virtual meeting company Zoom abandoned its $14.7 billion acquisition of the company in October 2021 after Five9’s shareholders voted against the deal.
What would have been Zoom’s biggest acquisition ever was terminated after proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis had cited growth concerns and advised Five9 shareholders against the deal.
Source: Reuters.com