Zoom to Acquire Solvvy and Advance the Next Frontier of Customer Service
We’re excited to announce that we’ve entered into an agreement to acquire Solvvy, a leading conversational AI and automation platform for customer support. A few months ago, we launched Zoom Contact Center with the goal of redefining the contact center category with our unique combination of unified communications and customer experience – and we believe Solvvy will help us achieve that goal.
As the nature of customer experience continues to fundamentally transform, enterprises increasingly need to deliver exceptional, personalized, and effortless customer experiences. That’s where Solvvy comes in – with the addition of Solvvy’s differentiated AI and machine learning technology, we’ll be able to accelerate our contact center roadmap to create a concierge-level experience for customers worldwide. As a result, we will help businesses of all sizes improve their customer retention, increase operating efficiency, and set new standards for customer service and satisfaction.
Solvvy’s proprietary technology will broaden Zoom Contact Center’s offering with scalable self-service and conversational AI. Our customers will benefit from an automated, integrated, and easy-to-deploy contact center, which will help answer end-customers’ questions and solve issues faster – improving the overall customer experience and driving operational savings. Together, we expect Zoom and Solvvy will offer elevated customer service experiences to a global enterprise base.
We are confident that this combination will help advance the next frontier of customer service because Zoom and Solvvy are a terrific fit – both in terms of technology and culture. We have each built leading enterprise SaaS businesses through a focus on scalability, simplicity, and respect for the end-customer. We also have a shared passion for leveraging best-in-class modern technology solutions to enhance human experiences. With our shared focus and priorities, we will be able to capitalize on new opportunities in contact center and customer support, and long-term, we see tremendous potential to unlock new opportunities where highly personalized, video-based service can be a key differentiator.
We can’t wait to welcome Solvvy to the Zoom family and look forward to all that we will accomplish together!
This communication contains forward-looking information related to Zoom and Solvvy and the acquisition of Solvvy by Zoom that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements regarding the potential benefits of the proposed transaction for Zoom, Solvvy and their respective customers, Zoom’s plans, objectives, expectations and intentions with respect to the proposed transaction, the size of the opportunity for Zoom in contact centers, the financial condition, results of operations and business of Zoom, and the anticipated closing of the proposed transaction.
In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements, including: risks related to the ability of Zoom to consummate the proposed transaction on a timely basis or at all, Zoom’s ability to successfully integrate Solvvy’s operations and personnel, Zoom’s ability to implement its plan, forecasts and other expectations with respect to Solvvy’s business after the completion of the transaction, the ability to realize the anticipated benefits of the proposed transaction, and continued uncertainty regarding the extent and duration of the impact of COVID-19 and the responses of government and private industry thereto, including the potential effect on Zoom’s user growth rate as the impact of the COVID-19 pandemic tapers.
Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements described under the caption “Risk Factors” and elsewhere are in Zoom’s most recent filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended January 31, 2022.
Forward-looking statements speak only as of the date the statements are made and are based on information available to Zoom at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Zoom assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.