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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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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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