Polycom Inc., a global provider of unified communications solutions, on Monday announced acquiring ViVu Inc., a video collaboration software company.
Based in Cupertino, Calif., privately held ViVu has developed video collaboration software that can be embedded into a range of Web applications.
Polycom noted the acquisition reinforces a software strategy that it announced last month to drive the global adoption of HD video collaboration through open standards. Polycom also said it plans to use ViVus technology to embed video collaboration into social business apps.
ViVu is a compelling acquisition for Polycom as their technology provides a scalable architecture to quickly deploy rich video collaboration for a range of Web-based applications for social, business, and industry-specific applications, such as those for healthcare, finance, and customer service,” said Sudhakar Ramakrishna, Polycoms executive vice president and general manager of UC solutions and chief development officer, in a statement.
ViVus technology already has been embedded into a number of enterprise applications. For example, the company powers the video collaboration inside Thomson Reuters financial content app, enabling finance professionals to collaborate.
Pleasanton, Calif.-based Polycom did not reveal the value of the acquisition, but the public company said it expects the deal to be neutral to its earnings. Polycom plans to report its third-quarter results on Wednesday, Oct. 19.
Shares of Polycom were up Monday 62 cents or 2.74 percent to $22.01 as of 1:12 ET.
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January 17 2019 @ 18:50:04 UTC