Zoom’s massive $14.7 billion deal for Five9 highlights record-setting year for M&A

SourceYahoo News
SectorTechnology
CountryMiddle east

Flush with cash and a near-record stock price, Zoom (ZM) isn’t the only corporate titan making power moves on the deal front as execs look to grab market share post-pandemic.

Zoom, which is buying cloud contact center Five9, has now inserted itself into a mind-blowing year for M&A in large part thanks to high cash positions coming out of the COVID-19 pandemic and still rock-bottom interest rates.

About $1.9 trillion of deal value for U.S.-based acquirers has been announced so far this year, according to new data from Goldman Sachs. The level represents the highest volume of M&A at this point in the year since at least 2000.

“The 2020 recession led to robust debt and equity issuance. Now, cash balances are high and S&P 500 managements are deploying some of the cash on M&A deals,” said Goldman Sachs chief U.S.

equity strategist David Kostin.

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