Five9 is a company that provides intelligent cloud software for contact centers in the United States and internationally. They offer a virtual contact center cloud platform that allows for a variety of customer service, sales, and marketing functions. The company serves customers in various industries such as banking, retail, healthcare, and technology. The stock market value of Five9 is currently at $3.01 billion, with each share priced at $40.77.
Anson Funds, a multi-strategy fund founded by Moez Kassam, recently acquired a position in Five9. The fund, which has $1.9 billion in assets, hired Sagar Gupta to build out their activism strategy in October 2023. Five9 has been a target for acquisition offers in the past, with Zoom Video making a $14.7 billion offer in 2021. However, the deal fell through as Five9 shareholders voted against it.
The company’s shares have been declining due to slowing growth and concerns about the impact of artificial intelligence on contact centers. Despite these challenges, Five9 has the potential to capture market share as more contact centers transition to the cloud. The company offers AI contact center solutions that can augment or replace human agents, positioning them as a disruptor in the industry.
Anson Funds is reportedly pushing Five9 to explore a potential sale, with strategic acquirers like ServiceNow, Salesforce, and Zoom being potential buyers. Zoom, in particular, has expressed interest in acquiring a contact center company. The pressure for a sale is also coming from Five9’s board, with the lead independent director up for re-election next year.
Overall, Five9 has significant opportunities for growth and value creation as the company continues to focus on SaaS revenue and expanding its market share. The potential sale of the company could further enhance shareholder value, making it an interesting stock to watch in the coming months.