Zoom Video to acquire Workvivo, terms not disclosed

Zoom announced the acquisition of Workvivo to "extend Zoom’s platform and offer its customers new ways to keep employees informed, engaged, and connected." "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. 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," said Kelly Steckelberg, CFO at Zoom. 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 company said. The transaction is expected to close in Q1 FY2024. Terms of the transaction were not disclosed.