ZoomInfo Finalizes $575 Million Chorus.ai Purchase and Secures New Funding
ZoomInfo acquires conversation intelligence leader Chorus.ai for approximately $575 million in cash. The tech company simultaneously secures $500 million in new debt financing to support the purchase and fund general corporate purposes.
ZoomInfo completes its acquisition of Chorus.ai, a prominent player in the conversation intelligence space, for a cash purchase price of approximately $575 million. The transaction sees ZoomInfo take over substantially all of Chorus.ai's assets and certain specified liabilities. This strategic move expands ZoomInfo's go-to-market intelligence platform by integrating advanced conversation analytics into its existing suite of sales and marketing tools.
To support this major purchase, ZoomInfo secures $500 million in new financing through a combination of notes and loans. The company issues $300 million in Senior Notes due 2029 and obtains an additional $200 million in term loans through an amended credit agreement. Initially, ZoomInfo uses revolving credit borrowings and cash on hand to fund the acquisition before replacing those borrowed funds with the proceeds from this new financing.
ZoomInfo uses the net proceeds from the financing to repay the $225 million borrowed from its revolving credit facility for the initial purchase. The remaining funds cover fees and expenses associated with the acquisition and the financing transactions, while also providing capital for general corporate purposes. By absorbing Chorus.ai's technology, ZoomInfo aims to help its more than 20,000 clients sell and market even more effectively.