Established in 2017, Workvivo is said to offer a modern, feature-rich employee experience platform that brings together advanced internal communication and engagement tools, an employee app, and a social intranet into one central hub to create the core of a company’s digital ecosystem
Employee experience platform Workvivo to be acquired by Zoom. (Credit: Coolcaesar/Wikipedia.org)
Zoom Video Communications has announced the acquisition of Ireland-based employee communication and engagement platform Workvivo.
The financial terms of the deal were not disclosed.
With the acquisition of Workvivo, the US-based communications technology company expects to expand its platform and provide customers with novel ways to keep employees informed, engaged, and connected.
Established in 2017, Workvivo is said to offer a modern, feature-rich employee experience platform.
The platform brings together advanced internal communication and engagement tools, an employee app, and a social intranet into one central hub to create the core of a company’s digital ecosystem.
Workvivo partners with companies around the world in a variety of sectors, including Bupa, TELUS International, and Everton.
According to the parties, Workvivo’s offering has experienced triple-digit growth over the last three years. Its platform is used by brands such as Lululemon, Liberty Mutual, Madison Square Garden, Ryanair, and Wynn Resorts.
Workvivo CEO and co-founder John Goulding said: “Our platform replaces outdated, clunky, internal communications tools with a vibrant, familiar social experience, and has a proven history of unparalleled levels of adoption.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.”
The transaction is anticipated to help Zoom continue the development of its end-to-end collaboration platform aimed at supporting the digital-first workplace and enabling contemporary work.
Zoom chief financial officer Kelly Steckelberg said: “The power of Workvivo’s 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.
“Workvivo has set the standard for employee communications, helping businesses reach and engage millions of employees worldwide. Workvivo prioritises ease-of-use and simplicity of design, offering the best user experience which is a perfect match to Zoom’s DNA.”
Upon the closing of the deal, Zoom intends to integrate Workvivo’s capabilities into its platform to provide an enhanced employee experience.
The acquisition is anticipated to be complete in Q1 FY2024.
In February 2023, Zoom announced the layoff of about 1,300 employees, a move that impacted 15% of the company’s workforce. The job cuts were taken up by the company due to the uncertainty of the global economy and hiring mistakes.