RingCentral has acquired the events business of pandemic darling Hopin, bolstering its presence in the virtual event space.
Hopin Events is an all-in-one event management platform for the planning and production of virtual and hybrid events, offering features for various event types and formats, including conferences, multi-track sessions, networking, sponsor booths, and efficient registration tools.
Also included in the deal is Hopin Session, which is designed to host virtual webinars.
Vlad Shmunis, Founder, Chairman, and CEO of RingCentral, said: “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
“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.”
RingCentral said that, alongside the acquired technology, the deal also includes “engineering, product and go-to-market talent from Hopin”.
The deal sees RingCentral’s suite of products expand beyond collaboration and into the events space.
Hopin hit unicorn status during the Covid pandemic as businesses grappled with the move from in-person to virtual events. It went on to raise more than $1bn in funding, being valued at more than $7bn.
When the acquisition closes, Hopin will be left with its StreamYard and Streamable products, as well as Superwave, which is currently in beta.
In a blog post, Johnny Boufarhat, Founder and CEO of Hopin, describe the deal as “a strategic partnership with RingCentral.
He said: “We believe our strengths complement each other perfectly, and together, we can redefine the customer experience in the global Unified Communications as a Service and Events industries.
“This is a powerful step forward for Hopin, allowing these products to reach millions more users, and letting us focus on scaling our mission of helping people connect meaningfully beyond geographical boundaries.”
Terms of the deal were not disclosed.
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