Technology
Zoom, Five9 to Terminate Nearly $15 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.
“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
Hollywood
Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025
Tom Holland, last seen in Apple TV show The Crowded Room last year, has signed his next with Academy Award-winning filmmaker Christopher Nolan.
Tom Holland is going to have a very busy 2025. As per The Hollywood Reporter, the actor has signed Christopher Nolan’s next, which he will juggle the filming of with that of the long-awaited Spider-Man 4. (Also Read – Tom Holland shares why he left alcohol behind: ‘Struggling without booze…’)
Tom signs Nolan’s next
This will mark the first collaboration between Tom and Christopher. While details of his next directorial aren’t known yet, it’s most likely not to have a contemporary setting. It’ll be either set in the past like, his previous film Oppenheimer (2023), or in the future like Interstellar (2014). Matt Damon, who has worked with Christopher in both, has also come on board his next.
Christopher’s next will be co-produced by him and his wife Emma Thomas’ banner Syncopy Inc and Universal Pictures, as the two production houses will team up after the Academy Award-winning blockbuster Oppenheimer last year. Prior to Oppenheimer, Christopher collaborated mostly with Warner Bros before having a fallout post the debacle of Tenet (2020).
Warner Bros then went on to produce Greta Gerwig’s musical satire Barbie, which clashed with Oppenheimer at the box office and even outperformed it globally. Warner Bros offered Christopher a cheque for the fees he waived off for helming Tenet during the pandemic. While Christopher graciously accepted the belated remuneration, he still went on to pitch his next to Warner Bros.
Tom’s busy schedule
Tom didn’t have any release this year. His last outing was Todd Graff’s psychological thriller show The Crowded Room on Apple TV last year. He’ll juggle the filming of Christopher Nolan’s next and Spider-Man 4 in 2025. Tom has been playing the superhero ever since Russo Brothers’ 2016 blockbuster Captain America: Civil War. He’s slipped into the Peter Parker shoes post that for three standalone films and two Avengers movies. Spider-Man 4 will be helmed by Shang-Chi and the Legend of the Ten Rings director Destin Daniel Cretton.
As Tom’s girlfriend and co-star Zendaya will be busy filming Spider-Man 4 in 2025, she’ll reprise her role of Chani in Denis Villeneuve’s sci-fi spectacle Dune 3 only in 2026. Meanwhile, Tom is also likely to make an appearance as Spider-Man in Russo Brothers’ Avengers: Doomsday, which will go on floors in the spring of 2025.
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