Why Zoom Video Communications Was Down on Monday

Zoom Video Communications (NASDAQ: ZM) was trading down by over 2% in late afternoon action on Monday. This followed the announcement of the video conferencing specialist's latest acquisition.

On Sunday, Zoom announced that it has signed a definitive agreement to acquire cloud-based contact center software developer Five9 (NASDAQ: FIVN). Zoom said the transaction is valued at $14.7 billion. Thankfully the tech company's owner-to-be won't have to feverishly raise cash for the deal, as it's being effected entirely in Zoom stock.

Image source: Zoom Video Communications.

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Source Fool.com