By Maria Armental

Zoom Video Communications Inc. and Five9 Inc. agreed to call off their merger, the companies said Thursday.

The announcement comes about a week after The Wall Street Journal reported that the a Justice Department-led panel was investigating the proposed deal over potential national-security risks due to Zoom's China ties.

On Thursday, the two companies said that they had agreed to call off the deal, which didn't get enough votes from Five9 shareholders.

The two intend to continue working together, as they did before the proposed deal, and that Five9 will continue to operate as a standalone, publicly traded company.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

September 30, 2021 18:58 ET (22:58 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Zoom Video Communications (NASDAQ:ZM)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Zoom Video Communications Charts.
Zoom Video Communications (NASDAQ:ZM)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Zoom Video Communications Charts.