Five9, Inc. (NasdaqGM:FIVN) has been exploring a potential sale, people with knowledge of the matter said, a little more than two years after the call center software provider scrapped a multibillion-dollar takeover by Zoom Video Communications, Inc. (NasdaqGS:ZM). San Ramon, California-based Five9 is working with advisers as it seeks to gauge interest from potential buyers, according to the people. It?s already held discussions with Zoom about possibly resurrecting a deal and is likely to attract other strategic suitors, they said.

Shares in Five9 rose as much as 16% on December 4, 2023 for their biggest intraday gain in more than a year. The stock was up 12% at 3:34 p.m. in New York, giving the company a market value of about $6.5 billion. San Jose, California-based Zoom was down 3.9% for a market value of about $20.6 billion.

Zoom sought to buy Five9 in the summer of 2021 to bolster its videoconferencing app in the face of stiffening competition. But a proposed $14.7 billion transaction ultimately fell apart after a decline in Zoom?s shares, as the Covid-19 pandemic began to ebb, slashed the all-stock deal?s value and led Five9?s shareholders to reject the offer. Deliberations are ongoing and there?s no certainty they will result in a sale, the people said, asking not to be identified discussing confidential information.

A representative for Zoom declined to comment, while spokespeople for Five9 didn?t respond to requests for comment.