Zoom-Five9 deal probed over China ties - report

Tuesday, 21. September 2021 20:21

The United States Justice Department's committee, known as Team Telecom, is investigating an acquisition deal between Zoom Video Communications Inc. and Five9 Inc., The Wall Street Journal reported on Tuesday, citing a letter it reviewed.

The committee will investigate Zoom's alleged ties with China in order to ensure that the acquisition doesn't hinder United States' national security, the report read.

The acquisition was brought into question the day before, as well, as investors holding Five9 stocks argued that the all-stock transaction isn't fair as Zoom's shares plunged since the deal was signed.

Related Links: Five9 Inc.Zoom Video Communications Inc.
Breaking the News / BU