Zoom and Five9 Abandon $14.7 Billion Acquisition

Cloud contact center software company Five9 and video calling software maker Zoom said Thursday they will not go forward with Zoom's plan to acquire Five9 for $14.7 billion. From a report: Five9 shares fell 2% in extended trading following the statement from the companies, which said the acquisition didn't receive enough votes from Five9 shareholders. A branch of the U.S. Department of Justice was reviewing the deal out of concern of potential foreign participation, according to a letter dated Aug. 27, that was sent to the Federal Communications Commission. But Zoom said last week, when news of the review was reported, that it still expected the deal to close in the first half of 2022.

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