RingCentral Acquires Video Offerings from Hopin

RingCentral, a provider of cloud communications, video meeting, collaboration, and contact center solutions, has acquired assets from Hopin, a provider of online audience engagement technology, including its flagship Events platform and Session product. Financial terms of the deal were not disclosed.

Hopin Events is an all-in-one event management platform that enables planning and producing virtual and hybrid events, including conferences, multi-track sessions, networking, sponsor booths, and robust registration tools. Hopin Session is a highly personalized engagement solution.</p">

"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," said Vlad Shmunis, founder, chairman, and CEO of RingCentral, in a statement. "We expect the technology and outstanding talent from Hopin will accelerate our ability to achieve these goals and help us differentiate our entire video portfolio."

"We've built a world-leading events platform trusted by both internal and customer-facing teams at large enterprises and SMBs around the world," said Johnny Boufarhat, founder and CEO of Hopin, in a statement. "We are thrilled to see the technology that Hopin has been developing over the years find a new home with RingCentral, a recognized [unified communications-as-a-service and contact center-as-a-service] leader. We're excited about RingCentral's plans to grow and invest in the Events and Session platforms as we continue to pursue our vision of building a Community Suite for creators and influencers."

With this acquisition, RingCentral's video suite will be extended to include hosting and management of virtual and hybrid events. The suite currently includes the following:

• RingCentral Video, a cloud-based meetings solution that lets customers start, schedule, or join meetings from anywhere, including web browser, desktop app, or mobile app.
• RingCentral Rooms, a cloud-based video conference room solution that brings video collaboration into any space.
• RingCentral Webinar, a solution that allows customers to broadcast meetings to large audiences of up to 10,000 participants from desktop, browser, or mobile.

"Amid the strong desire for a return to live events, budget constraints have hindered pre-pandemic corporate crowd capacities, and organizations continue to grapple with the complexities of hosting quality hybrid meetings, often leaving remote attendees with substandard experiences," said Melody Brue, vice president and principal analyst of modern work at Moor Insights & Strategy, in a statement. "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. The Hopin Events platform's maturity and its seasoned team should also position RingCentral to evolve with how people gather virtually in the future."