RingCentral, AI-driven global enterprise cloud communications provider, has made a strategic move by acquiring select assets from Hopin, a top-tier provider of online audience engagement technology. The acquisition encompasses Hopin’s flagship Events platform and Session product, aiming to bolster RingCentral’s video solutions and enhance its ability to cater to specialized interactive events.
The Hopin Events platform, a comprehensive event management tool, facilitates the planning and execution of virtual and hybrid events seamlessly. Its array of features includes multi-track sessions, networking opportunities, sponsor booths, and robust registration tools, making it a go-to choice for events of varying scales and formats.
RingCentral’s vision of transforming video communication aligns with this acquisition. Vlad Shmunis, Founder, Chairman, and CEO of RingCentral, emphasized the company’s ambition, stating, “We see an opportunity to redefine how video communication is experienced. This acquisition is a key next step in our journey to deliver more personalized and engaging video meetings and events for customers.”
The incorporation of Hopin’s technology assets, customer relationships, and skilled workforce into RingCentral’s ecosystem is projected to fast-track the realization of these goals. The acquisition reinforces RingCentral’s commitment to offering versatile video solutions while extending its suite to include virtual and hybrid event hosting and management.
Johnny Boufarhat, Founder and CEO of Hopin, expressed excitement about the synergy between the two companies. “We are thrilled to see the technology that Hopin has been developing over the years find a new home with RingCentral, a recognized UCaaS and CCaaS leader,” he said. Boufarhat believes that RingCentral’s plans to nurture and invest in the Events and Session platforms align with Hopin’s vision of building a Community Suite for creators and influencers.
Melody Brue, VP & Principal Analyst of Modern Work at Moor Insights & Strategy, pointed out the significance of this acquisition in the current landscape. “RingCentral’s acquisition of the Hopin Events and Hopin Session platforms complements the company’s video product portfolio and helps address challenges in how people gather today,” she noted.
While the financial terms of the transaction remain undisclosed, this move is expected to elevate RingCentral’s position in the market, offering a comprehensive suite of video solutions tailored to the evolving needs of virtual and hybrid events.
