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Small toy figures are seen in front of the Zoom logo in this illustration picture.   | Photo Credit: Reuters

Five9 Inc shareholders voted down on Thursday betwa river meets yamuna at ,the call centre software firm's .7 billion sale to Zoom Video Communications Inc, scuttling what would have been the virtual conferencing giant's biggest-ever acquisition.

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The development comes after proxy advisory firm Institutional Shareholder Services earlier this month recommended Five9 shareholders vote against the deal, citing growth concerns.,betway88

football tomorrow live,"The agreement did not receive the requisite number of votes from Five9 shareholders to approve the merger with Zoom," San Ramon, California-based Five9 said on Thursday.

"Five9 will continue to operate as a standalone publicly traded company.",soccer robot

Also read | Zoom buys German AI translation company,baseball lab

Zoom became a household name and an investor favourite in the year since the pandemic, as businesses and schools adopted its services to hold virtual classes and office meets.,football games apps 2012

But with rapid vaccination and life creeping back to normal, Zoom was looking to rake in revenue beyond its core video conferencing business that faces stiff competition from rivals Microsoft Corp, Cisco Systems Inc and Salesforce's Slack.,i-league 2021

Last week, analysts said the deal may be delayed by a U.S. Justice Department-led committee review but was unlikely to be scrapped.,d lajovic

A U.S. Justice Department-led committee was also reviewing Zoom's proposed all-stock deal to buy Five9,22bet 1xbet , according to a letter filed with U.S. regulators.

The Aug. 27 letter filed with the Federal Communications Commission said the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector was reviewing to see if the deal "poses a risk to the national security or law enforcement interests".,cachof oz

10 cric,Zoom's connection with China has been scrutinised in recent years. In December, U.S. prosecutors charged a former China-based Zoom executive with disrupting video meetings commemorating the 31st anniversary of the Tiananmen Square crackdown at the request of the Chinese government.

Five9 presented an attractive means to bring to our customers an integrated contact centre offering, Zoom CEO Eric Yuan said on Thursday.,addaonline

"That said, it was in no way foundational to the success of our platform nor was it the only way for us to offer our customers a compelling contact centre solution," Yuan added.,babar azam

Also read | Zoom reaches million settlement over user privacy, ‘Zoombombing’,best online poker players

Five9 said it would continue the partnership with Zoom that was in place prior to the announcement.,football soccer

Five9's shares, which gained as much 19.3% since the deal was announced in July, fell 1.3% to 7.70 in extended trading.,bet365 apk mobile

soccer robot,Five9, whose call centre software is used by more than 2,000 clients across the globe to interact with their clients, counts firms such as Under Armour, Lululemon Athletica Inc and Olympus Corp as customers.


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Printable version | Oct 20, 2021 10:03:23 AM | http://pcengg.co.in/sci-tech/technology/internet/zoom-five9-mutually-agree-to-terminate-nearly-15-billion-all-stock-deal/article36769596.ece ,junglee r

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