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Zoom, Five9 to Terminate Nearly $15 Billion Deal After Shareholder Vote

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3 years ago

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Zoom, Five9 to Terminate Nearly Billion Deal After Shareholder Vote

Five9 shareholders voted to reject the call center software company’s $14.7 billion (approximately 1,0926 million rupees) sale to Zoom.

Five9 shareholders voted Thursday to reject the call center software company’s sale to Zoom Video for US$14.7 billion (approximately 1,0926 million rupees), which dealt a major blow to Zoom’s plans to expand its products after the pandemic. After the agency advisory firm Institutional Shareholder Services (ISS) and Glass Lewis advised Five9 shareholders to vote against the transaction earlier this month, Zoom’s largest acquisition in history was terminated, citing growth concerns and dual equity. According to the terms of the transaction announced in July, Five9 shareholders will receive 0.5533 shares of Zoom for every purchase of Five9 stock. These terms imply a 12.8% premium to Five9’s market price, and value the company at US$14.7 billion (approximately Rs 1092.6 billion).

Since then, Zoom’s stock price has fallen by more than 25% as the virtual meeting giant reported slowing growth during the second quarter earnings call. Towards a post-pandemic environment,” the International Space Station said in a report earlier this month. Five9, headquartered in San Ramon, California, said that the merger agreement did not receive enough shareholder approval votes and it will continue to operate as an independent public company. On Thursday, Zoom CEO Eric Yuan said that Five9 provides an attractive way to provide customers with integrated contact center products.

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“In other words, this is by no means the basis for the success of our platform, nor is it that we provide our customers with compelling contact center solutions,” Yuan added. The company said it will launch its cloud-based contact center solution, Zoom Video Engagement Center, in early 2022. Five9 said it will continue its partnership with Zoom, which was in place before the announcement. As the pandemic suppresses events and companies and schools adopt its services to host virtual courses and office meetings, Zoom has become a household name and a favorite of investors. But with the rapid vaccination and the gradual return of life to normal, Zoom is looking for sources of income outside of its core video conferencing business, which faces fierce competition from competitors Microsoft, Cisco Systems, and Salesforce’s Slack.

According to a letter submitted to U.S. regulators, a committee led by the U.S. Department of Justice has been reviewing Zoom’s proposal to acquire Five9 for possible national security issues, but analysts said last week that the transaction is unlikely to be compromised. Cancel. In recent years, Zoom’s ties with China have received close attention. Five9’s share price has risen 19.3% since the deal was announced in July, but fell 1.1% to US$157.9 (approximately Rs 11,740) in an extended transaction on Thursday.

News Source : Gadgets 360

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Music

While a Punjabi vocalist croons, PM Modi replicates Diljit Dosanjh’s beats and beats the table like a dholak. Observe

Published

3 weeks ago

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January 2, 2025

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While a Punjabi vocalist croons, PM Modi replicates Diljit Dosanjh’s beats and beats the table like a dholak. Observe

Prime Minister Narendra Modi recently met acclaimed singer- actor Diljit Dosanjh, describing their interaction as “very memorable.” 
Prime Minister Narendra Modi met singer-actor Diljit Dosanjh and lauded him as “a combination of talent and tradition.” During the “memorable’ meeting”, the two discussed music, culture, and India’s vibrancy, including yoga.

Diljit, PM Modi match beats

During the meeting, PM Modi praised Diljit for his achievements, saying, “When a boy from a small village in Hindustan shines on the global stage, it feels amazing. Your family named you Diljit, and you keep on winning people’s hearts, just as your name suggests.”

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Diljit responded, “We used to read that ‘Mera Bharat Mahan’ (My India is great), but when I travelled across India, I realised why people say this.” PM Modi highlighted India’s diversity, saying, “India’s vastness is its strength. We are a vibrant society.”

Diljit added, “The greatest magic in India is yoga.” PM Modi agreed, saying, “Those who have experienced yoga know its power.”

The singer-actor also admired PM Modi’s personal journey, saying, “I had watched your interview, sir. The position of Prime Minister is great, but behind it, there is a mother, a son, and a human being. Many times, this half-truth is much larger when you carry your mother and the sacred Ganga with you. That touches the heart.”

Diljit then sang a song on Guru Nanak, as PM Modi listened intently, beating the adjacent table like a dholak, matching his beats with Diljit’s.

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Diljit, PM Modi express grattitude

After the meeting, Diljit Dosanjh expressed his gratitude, calling it a “fantastic” way to start the year. He posted on X, “A fantastic start to 2025. A very memorable meeting with PM @narendramodi Ji. We talked about many things, including music, of course!”

PM Modi responded to Dosanjh’s post, describing their meeting as “a great interaction.” He said, “A great interaction with Diljit Dosanjh! He’s truly multifaceted, blending talent and tradition. We connected over music, culture, and more.”

Diljit recently concluded his Dil-Luminati tour in India with a grand performance in Ludhiana. Throughout his concerts at various venues, the singer aimed to address important social issues during his performances.

In a lighthearted and endearing moment, Prime Minister Narendra Modi was seen enjoying the beats of a Punjabi vocalist, tapping the table in rhythm like a dholak player during a recent cultural event. The video, which has since gone viral, showcases PM Modi replicating the infectious energy of Diljit Dosanjh’s iconic beats, capturing the essence of Punjabi music’s vibrancy and rhythm.

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The event brought together various cultural performers, with one Punjabi vocalist stealing the spotlight. As the singer crooned traditional Punjabi tunes, PM Modi, seated among other dignitaries, began enthusiastically tapping the table in sync with the music. His gestures resembled a seasoned dholak player, displaying his spontaneous connection with the pulsating beats.

The audience present erupted in applause, cheering on the Prime Minister’s engaging participation. Social media users were equally charmed, with many praising Modi’s ability to connect with the cultural diversity of India. “Modi Ji has the rhythm of a true Punjabi!” one user commented, while another said, “This is the energy we love to see in our leader.”

The moment also highlighted PM Modi’s commitment to celebrating India’s rich cultural heritage. His natural enjoyment of the performance reflects his appreciation for the art and music that unify the diverse communities of India.

Such lighthearted and relatable gestures from leaders often resonate deeply with the public, making them feel connected on a personal level.

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#PMModi #DiljitDosanjhBeats #PunjabiMusicVibes #CulturalCelebration #DholakBeats #IndiaUnity #MusicConnects #ViralMoment #PMModiInAction #PunjabiHeritage

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