Zoom Video Communications, Inc. and Five9, Inc. agreed to scrap a merger deal after Five9 shareholders voted against it.
The US$14.7bn deal was announced in July as Zoom tried to diversify its business ahead of a mass return to the office.
READ: Zoom Q2 revenue exceeds US$1bn but growth set to slow in Q3
Five9, which supplies a suite of cloud-based software that enables companies to set up and manage their contact centre and staff, would have boosted Zoom’s presence with enterprise customers.
The pair will continue their previously existing partnership, which includes support for integrations between their respective Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) solutions and joint go-to-market efforts.
Shares in Five9 shed 1% to US$ 157.97 in after-hours trading. Zoom was flat at US$260.60.