Five9 Rises 3% On Agreement To Be Bought By Zoom Video

(RTTNews) - Shares of Five9, Inc. (FIVN) are up more than 4% Monday morning at $184.34.

Sunday, the cloud software provider announced that it has agreed to be bought by Zoom Video Communications, Inc. (ZM) in an all-stock transaction valued about $14.7 billion.

As per the deal, Five9 stockholders will receive 0.5533 Class A shares of Zoom for each Five9 share they own based on the closing price of Zoom share as of July 16. This represents a per share price of $200.28 for Five9.

Upon closing the deal, which is expected in the first half of 2022, Five9 will be an operating unit of Zoom.

FIVN has traded in the range of $107.77- $201.75 in the past 52 weeks.