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Five9 (NASDAQ:FIVN) dropped 5% in after-hours trading after the call center software provider said it’s not pursuing any deal after a report on Monday that it was exploring a sale.
“Although Five9’s general policy is not to comment on market rumors or media speculation, Five9 was approached with such an opportunity; however, Five9 is not pursuing any such acquisition,” Five9 said in the statement.
Five9 (FIVN) shares rose 7.4% on Monday after a Bloomberg report said the company was exploring a sale a little bit more than two years after it scuttled its planned sale to Zoom (ZM). Five9 was reportedly working with advisers as it tried to gauge interest from potential buyers and Zoom was said to have held talks with the company about resurrecting a deal.
Shares of Five9 (FIVN) gave back most of their gains on Tuesday amid trader chatter that Zoom (ZM) wasn’t interested in pursuing another acquisition of Five9 after it originally agreed to buy the company in an ll-stock deal that valued Five* at $14.7 ~billion in July 2021. Zoom reportedly made the comments at a bus tour from a sell side brokerage on Tuesday.
Zoom (ZM) is scheduled to present at the Barclays Global Technology Conference on Wednesday, while Five9 (FIVN) will present on Thursday.
