Zoom buying Five9 in all-stock deal valued at $14.7 billion

Zoom announced Sunday it has signed an agreement to acquire cloud contact center software provider Five9 in an all-stock transaction valuing the company at $14.7 billion. Why it matters: This is Zoom's first billion-dollar acquisition and the second-biggest American tech deal this year, after Microsoft's planned $16 billion purchase of Nuance Communications, per CNBC.