News Snapshot:
Analysts and investment bankers said Zoom has scrapped its $14.7 billion (about Rs 1,09,280 crore) acquisition of call center software firm Five9. After Zoom’s reluctance to add cash to its bid and its shares plunging up to 29 percent in the weeks following the deal’s announcement in July, Five9 is fully on its stock as currency to pay for the deal. Relying on the concern that physical meetings as the COVID-19 pandemic return will destroy its business. Five 9 shareholders rejected the deal last week. Investment bankers and analysts said Zoom’s stock will remain volatile until investors establish what its...
