Five9 to Acquire Whendu’s iPaaS Platform to Accelerate Enterprise Adoption of Cloud Contact Centers
Combination will allow enterprises to move to the cloud rapidly by integrating workflows in real-time
SAN RAMON, Calif. - November 12, 2019 - Five9, Inc. (NASDAQ: FIVN), the leading provider of the intelligent cloud contact center, today announced the execution of a definitive agreement to acquire Whendu's iPaaS platform, which is designed for the specific needs of the contact center. Whendu helps accelerate the contact center migration to the cloud by making it easier for enterprises to integrate with their existing environment and carry forward customized business processes.
Whendu's iPaaS platform provides a no-code, visual application workflow tool, optimized for contact centers, that is designed to:
- Empower citizen developers, such as business analysts, developers, partners and system integrators
- Allow business analysts to rapidly respond to changing business requirements in real-time
- Empower businesses to improve ROI by easily integrating widely available cloud services and premise-based systems
- Maximize investment in cloud-based contact centers by connecting homegrown systems with the entire enterprise
- Accelerate agility and speed of the enterprise to keep up with the shifting technology landscape driven by increasing customer expectations
To date, Whendu has 50+ out-of-the box application connectors that are ready to use.
"As enterprises transition from premise contact centers to the cloud, we've seen two problems arise," said Rowan Trollope, CEO, Five9. "First, difficulty migrating due to custom integrations and complex workflows tying contact centers to business systems. Second, as enterprises look to improve customer service, the resulting workflows are often complex and require custom development work. Development resources are scarce and expensive making both problems challenging."
"The acquisition of Whendu's iPaaS platform solves both of these problems through a powerful platform that enables the citizen developer (business analysts, contact center operations folks, and others) to visually create custom workflows with no coding required, reducing the complexity and cost of integrating disparate systems," concludes Trollope.
"We are thrilled to join Five9 and help in the advancements of enterprises moving to the cloud," said Ray Soto, CEO, Whendu. "The combination of Five9 and the Whendu iPaaS platform will make it easier for enterprises to make the move by rapidly integrating workflows in real-time."
"CCaaS became a no-brainer by 2015 for contact centers with less than 50 agents. By 2017, that number grew to 300. For larger, enterprise contact centers - with potentially thousands of seats - the operational issues of migration have often impeded progress," said Sheila McGee-Smith, Founder and Principal Analyst, McGee-Smith Analytics. "The addition of Whendu adds assets to Five9's arsenal to ease the burdens of transitioning to the cloud as well as helping contact centers to continue to innovate using all the cloud has to offer."
Five9 expects the transaction to close this week.
Five9 is a leading provider of cloud contact center software for the intelligent contact center space, bringing the power of cloud innovation to customers and facilitating more than five billion call minutes annually. Five9 provides end-to-end solutions with omnichannel routing, analytics, WFO and AI to increase agent productivity and deliver tangible business results. The Five9 Genius platform is reliable, secure, compliant and scalable; designed to create exceptional personalized customer experiences.
For more information, visit www.five9.com.
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Forward Looking Statements
This news release contains certain forward-looking statements, including the statements in the quotes from our and Whendu's Chief Executive Officer, including statements regarding the expected synergies and benefits from the acquisition, the benefits to Five9's customers and potential customers, and the expected closing date of the transaction, that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include, among others: (i) our quarterly and annual results may fluctuate significantly, including as a result of the timing and success of new product and feature introductions by us, may not fully reflect the underlying performance of our business and may result in decreases in the price of our common stock; (ii) if we are unable to attract new clients or sell additional services and functionality to our existing clients, our revenue and revenue growth will be harmed; (iii) our recent rapid growth may not be indicative of our future growth, and even if we continue to grow rapidly, we may fail to manage our growth effectively; (iv) failure to adequately expand our sales force could impede our growth; (v) if we fail to manage our technical operations infrastructure, our existing clients may experience service outages, our new clients may experience delays in the deployment of our solution and we could be subject to, among other things, claims for credits or damages; (vi) security breaches and improper access to or disclosure of our data, our clients' data, their customers' data, or other cyber-attacks on our systems, could result in litigation and regulatory risk, harm our reputation and adversely affect our business; (vii) the markets in which we participate involve numerous competitors and are highly competitive, and if we do not compete effectively, our operating results could be harmed; (viii) if our existing clients terminate their subscriptions or reduce their subscriptions and related usage, our revenues and gross margins will be harmed and we will be required to spend more money to grow our client base; (ix) our growth depends in part on the success of our strategic relationships with third parties and our failure to successfully grow and manage these relationships could harm our business; (x) we have established, and are continuing to increase, our network of master agents and resellers to sell our solution; our failure to effectively develop, manage, and maintain this network could materially harm our revenues; (xi) we sell our solution to larger organizations that require longer sales and implementation cycles and often demand more configuration and integration services or customized features and functions that we may not offer, any of which could delay or prevent these sales and harm our growth rates, business and operating results; (xii) because a significant percentage of our revenue is derived from existing clients, downturns or upturns in new sales will not be immediately reflected in our operating results and may be difficult to discern; (xiii) we rely on third-party telecommunications and internet service providers to provide our clients and their customers with telecommunication services and connectivity to our cloud contact center software and any failure by these service providers to provide reliable services could cause us to lose clients and subject us to claims for credits or damages, among other things; (xiv) we have a history of losses and we may be unable to achieve or sustain profitability; (xv) the contact center software solutions market is subject to rapid technological change, and we must develop and sell incremental and new products in order to maintain and grow our business; (xvi) we may not be able to secure additional financing on favorable terms, or at all, to meet our future capital needs; (xvii) failure to comply with laws and regulations could harm our business and our reputation; (xviii) we may not have sufficient cash to service our convertible senior notes and repay such notes, if required; (xix) that we may not achieve the intended benefits of the acquisition or may not deliver our expected return on investment, we may incur unexpected costs or liabilities related to the transaction, the Whendu platform may not achieve market acceptance by our customers and potential customers, and that the transaction may not close when expected or at all; and (xx) the other risks detailed from time-to-time under the caption "Risk Factors" and elsewhere in our Securities and Exchange Commission filings and reports, including, but not limited to, our most recent annual report on Form 10-K and quarterly report on Form 10-Q. Such forward-looking statements speak only as of the date hereof and readers should not unduly rely on such statements. We undertake no obligation to update the information contained in this press release, including in any forward-looking statements.