Putting people at the heart of hybrid work: Zoom to acquire
Workvivo to bolster the employee experience offering
Behind work are workers. Real everyday people. People who work to
live, not live to work. People who need a sense of belonging. It’s
a simple concept that often gets forgotten as priorities and
demands take over the workday.
With workforces looking much different than they did just a few
years ago, leaders need to think differently to retain talent and
maintain company culture. Today’s workforce is hybrid and
distributed – with people working from home, in an office, at a
remote location, on the frontlines of a retail floor or warehouse,
as a pilot or flight attendant in an airplane, a nurse in a
healthcare clinic, or anything in between. In fact, 70% of US
employees are frontline workers. They are people who want to feel
connected to their colleagues and leaders – no matter where they
work. Engaging employees and driving culture through connection is
no longer a 'nice to have' – it’s imperative for success in today’s
business environment.
Zoom is excited to announce the acquisition of
Workvivo to extend Zoom’s platform and offer its customers
new ways to keep employees informed, engaged, and connected.
Founded in 2017, Workvivo provides a modern, feature-rich
employee experience platform, combining advanced internal
communication and engagement tools, a social intranet, and an
employee app, all blended into one central hub, forming the heart
of a company's digital ecosystem. Workvivo's best-in-class offering
has seen triple-digit growth in the last three years and is used
and trusted by hundreds of customers worldwide, from SMBs to some
of the world’s most well-known brands, including Liberty Mutual,
Lululemon, Ryanair, Madison Square Garden, and Wynn Resorts.
“We are excited to welcome the Workvivo team to Zoom. The power
of Workvivo employee experience platform, with its robust
communications and engagement offering combined with Zoom’s
all-in-one collaboration platform, allows organizations to fully
unlock the potential of their employees and evolve their company
culture in a hybrid world,” said Kelly Steckelberg, chief financial
officer at Zoom. “Workvivo has set the standard for employee
communications, helping businesses reach and engage millions of
employees worldwide. Workvivo prioritizes ease-of-use and
simplicity of design, offering the best user experience which is a
perfect match to Zoom’s DNA.”
“Zoom’s rapid pace of innovation and the persistent dedication
to building products with a human-first mindset is why we are most
excited about joining the team,” said John Goulding, CEO and
co-founder at Workvivo. “Our platform replaces outdated, clunky,
internal communications tools with a vibrant, familiar social
experience, and has a proven history of unparalleled levels of
adoption. With Zoom, we can build great things together, make
teamwork more meaningful, and extend collaboration beyond knowledge
workers, allowing us to reach employees who have historically felt
disconnected from the company.”
With this acquisition, Zoom continues its evolution to provide
the best end-to-end collaboration platform focused on enabling
modern work and powering the digital-first workplace.
Following the close of the transaction, Zoom plans to
incorporate Workvivo’s capabilities into its platform to deliver a
best-in-class, employee experience. Workvivo's founders John
Goulding and Joe Lennon, and the entire Workvivo team, will be
instrumental in driving employee experience innovation
strategy.
The transaction is expected to close in Q1 FY2024. Terms of the
transaction were not disclosed.
About ZoomZoom is an all-in-one intelligent
collaboration platform that makes connecting easier, more
immersive, and more dynamic for businesses and individuals. Zoom
technology puts people at the center, enabling meaningful
connections, facilitating modern collaboration, and driving human
innovation through solutions like team chat, phone, meetings,
omnichannel cloud contact center, smart recordings, whiteboard, and
more, in one offering. Founded in 2011, Zoom is publicly traded
(NASDAQ:ZM) and headquartered in San Jose, California. Get more
info at zoom.com.
About WorkvivoWorkvivo is an employee
experience platform designed to inform, engage and connect
employees everywhere. Workvivo works with organizations globally
across multiple industries, including Bupa, TELUS International and
Everton FC. Read more at www.workvivo.com.
Forward-Looking StatementsThis news release
contains forward-looking information related to Zoom and Workvivo
and the acquisition of Workvivo by Zoom that involves substantial
risks, uncertainties and assumptions that could cause actual
results to differ materially from those expressed or implied by
such statements. Forward-looking statements in this communication
include, among other things, statements regarding the potential
benefits of the proposed transaction for Zoom, Workvivo and their
respective customers, Zoom’s plans, objectives, expectations and
intentions with respect to the proposed transaction, Zoom’s ability
to offer the best end-to-end collaboration platform, the financial
condition, results of operations and business of Zoom, and the
anticipated closing of the proposed transaction. In some cases, you
can identify forward-looking statements by terms such as
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,”
“might,” “plan,” “project,” “will,” “would,” “should,” “could,”
“can,” “predict,” “potential,” “target,” “explore,” “continue,” or
the negative of these terms, and similar expressions intended to
identify forward-looking statements. By their nature, these
statements are subject to numerous uncertainties and risks,
including factors beyond our control, that could cause actual
results, performance or achievement to differ materially and
adversely from those anticipated or implied in the statements,
including: risks related to the ability of Zoom to consummate the
proposed transaction on a timely basis or at all, Zoom’s ability to
successfully integrate Workvivo's operations and personnel, Zoom’s
ability to implement its plan, forecasts and other expectations
with respect to Workvivo's business after the completion of the
transaction, the ability to realize the anticipated benefits of the
proposed transaction, and continued uncertainty regarding the
extent and duration of the impact of COVID-19 and the responses of
government and private industry thereto, including the potential
effect on Zoom’s user growth rate as the impact of the COVID-19
pandemic tapers. Additional risks and uncertainties that could
cause actual outcomes and results to differ materially from those
contemplated by the forward-looking statements described under the
caption “Risk Factors” and elsewhere are in Zoom’s most recent
filings with the SEC, including its Annual Report on Form 10-K for
the fiscal year ended January 31, 2023. Forward-looking statements
speak only as of the date the statements are made and are based on
information available to Zoom at the time those statements are made
and/or management’s good faith belief as of that time with respect
to future events. Zoom assumes no obligation to update
forward-looking statements to reflect events or circumstances after
the date they were made, except as required by law.
Photos accompanying this announcement are available at
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Grafico Azioni Zoom Video Communications (LSE:0A1O)
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Grafico Azioni Zoom Video Communications (LSE:0A1O)
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Da Apr 2023 a Apr 2024