Zoom’s Five9 Deal Slowed in Review Prompted by Security Concerns
By Todd Shields
Sept. 21, 2021, 10:04 PM
Zoom Video Communications Inc.’s planned purchase of Five9 Inc. has drawn scrutiny from U.S. government security agencies, which have slowed review of the deal worth an estimated $15 billion.
The Federal Communications Commissionhas removed the proposed acquisition from streamlined review after receiving an Aug. 27 letterfrom the Justice Department.
The Justice Department cited “foreign relationships and ownership” associated with the merger application. It didn’t elaborate. Its request sends the deal for review before a multi-agency body that is to make a recommendation to the FCC.
Zoom is based in San Jose, California. Chief Executive Officer Eric Yuan ...