Empowers Avaya’s global sales & partner network with RingCentral’s leading technology platform
BELMONT, Calif.
&
SANTA CLARA, Calif.
--(BUSINESS WIRE)--
RingCentral, Inc.
(NYSE: RNG), and
Avaya Holdings Corp
(NYSE: AVYA) today announced the closing of their previously announced strategic partnership.
Avaya and
RingCentral
will introduce a new solution,
Avaya Cloud
Office by
RingCentral
(“Avaya Cloud Office”), which will be the exclusive public
Unified Communications
as a Service (“UCaaS”) solution marketed and sold by Avaya.
Avaya Cloud
Office combines RingCentral’s leading UCaaS platform with Avaya’s technology, services and migration capabilities to create a highly differentiated UCaaS offering. The companies expect to launch
Avaya Cloud
Office in the first quarter of calendar 2020.
“Our game-changing partnership with
RingCentral
and the introduction of
Avaya Cloud
Office have generated tremendous excitement with our partners and customers,” said
Jim Chirico
, Avaya President and CEO. “Avaya Cloud Office is a continuation of our stated strategy to be a cloud-first company, and we believe the addition of this UCaaS solution to our portfolio is a key differentiator that provides customers with a seamless journey to cloud communications. We, together with our global partner community, are excited to work with
RingCentral
in bringing this unique solution to market, building on the highly complementary strengths of our two industry-leading companies.”
“As a leader in cloud communications, we’re laser-focused on bringing the power of the cloud to more enterprise customers,” said
Vlad Shmunis
, RingCentral Founder, Chairman, and CEO. “With the growth of the mobile and distributed workforce, cloud communications solutions can deliver the capabilities enterprises need to effectively connect with customers, partners, and employees. This strategic partnership accelerates the transition of one of the world’s largest on-premise unified communications installed bases to the cloud. We’re excited for the long-term benefits this partnership will bring to customers and partners, as well as the growth opportunities that we expect it will drive for both our companies.”
“The strategic partnership is a winning combination for both Avaya and
RingCentral
, and it has the potential to disrupt the business communications industry as Avaya accelerates its transformation to the cloud. Careful consideration clearly went into designing the partnership framework to ensure maximum benefits for customers, partners, and both Avaya and RingCentral,” said
Elka Popova
, Vice President and Senior Fellow, Information and Communications Technologies,
Frost & Sullivan
.
RingCentral
is contributing
$500 million
to its partnership with Avaya, including a
$125 million
investment of 3% redeemable preferred equity that is convertible at
$16
per share and an advance of
$375 million
primarily in stock for future payments and certain licensing rights.
Forward-Looking Statements
This press release contains “forward-looking statements,” including but not limited to, statements regarding the anticipated benefits of and activity under the strategic partnership between
RingCentral
and Avaya, including the ability to create long-term growth opportunities for
RingCentral
and/or Avaya. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including risks related to the parties’ ability to successfully perform their obligations under the commercial arrangement, the parties ability to successfully develop and execute the envisioned jointly developed programs, technology and automation, the ability to successfully market, sell and transition customers to
Avaya Cloud
Office, as well as those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in RingCentral’s Form 10-Q for the quarter ended
June 30, 2019
, and in Avaya’s Form 10-K for the year ended
September 30, 2018
and subsequent 10-Qs, each filed with the
Securities and Exchange Commission
; and in other filings
RingCentral
and Avaya make with the
Securities and Exchange Commission
from time to time.
All forward-looking statements in this press release are based on information available to
RingCentral
and Avaya as of the date hereof, and we undertake no obligation to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates.
About
RingCentral
RingCentral, Inc.
(NYSE: RNG) is a leading provider of global enterprise cloud communications, collaboration, and contact center solutions. More flexible and cost-effective than legacy on-premises systems, the
RingCentral
platform empowers employees to work better together, from any location, on any device, and via any mode to serve customers, improving business efficiency and customer satisfaction. The company provides unified voice, video meetings, team messaging, digital customer engagement, and integrated contact center solutions for enterprises globally. RingCentral’s open platform integrates with leading business apps and enables customers to easily customize business workflows.
RingCentral
is headquartered in
Belmont, California
, and has offices around the world.
©2019
RingCentral, Inc.
All rights reserved.
RingCentral
and the
RingCentral
logo are trademarks or registered trademarks of
RingCentral, Inc.
About Avaya
Businesses are built on the experiences they provide, and every day millions of those experiences are built by Avaya (NYSE: AVYA). For over one hundred years, we’ve enabled organizations around the globe to win - by creating intelligent communications experiences for customers and employees. Avaya builds open, converged and innovative solutions to enhance and simplify communications and collaboration - in the cloud, on-premise or a hybrid of both. To grow your business, we’re committed to innovation, partnership, and a relentless focus on what’s next. We’re the technology company you trust to help you deliver Experiences that Matter. Visit us at
www.avaya.com
.
Source: Avaya Newsroom
View source version on
businesswire.com
:
https://www.businesswire.com/news/home/20191031005575/en/
Investor Relations Contacts:
Ryan Goodman
,
RingCentral
(650) 918-5356
Ryan.Goodman@ringcentral.com
Michael McCarthy
, Avaya
(919) 425-8330
mikemccarthy@avaya.com
Media Contacts:
Mariana Kosturos
,
RingCentral
(650) 562-6545
Mariana.Kosturos@ringcentral.com
Forrest Monroy
, Avaya
(669) 242-8122
fwmonroy@avaya.com
Source:
Avaya Holdings Corp.