Deal grows UCaaS vendor’s capabilities in crowded cloud communications space
CoreDial is expanding its capabilities in the fast-growing cloud communications market with the acquisition of eZuce, a 10-year-old unified communications vendor whose products include the Vibe video collaboration platform.
The Lowdown: The acquisition, announced this week by CoreDial, puts the Blue Bell, Pennsylvania-based company and its partners into greater competition with the likes of Zoom, RingCentral, and 8×8 as demand for collaboration technology has skyrocketed during the COVID-19 pandemic. No financial details of the sale were released.
The Details: CoreDial offers a range of cloud communications, contact center solutions and engagement services to enterprises and SMBs, primarily through more than 800 channel partners, including MSPs, VARs, and IT solution providers. Channel partners can leverage the company’s CoreNexa Unified Communications-as-a-Service (UCaaS) platform to bring CoreDial’s various services to end clients.
The acquisition of eZuce expands CoreDial’s capabilities with video. The company – based in Stoneham, Massachusetts, and with engineering and development teams in Slovakia and Romania – brings with it its Vibe platform, which offers such features as on-demand, scheduled, and recurring free and paid meetings, virtual rooms, large webinars, and communities. The Vibe platform is designed for cloud deployments and supports downloadable clients for Windows, Mac, and Linux operating systems, as well as devices running iOS and Android mobile OSes.
CoreDial will integrate eZuce’s video collaboration technology into the CoreNexa platform and also offer the software and services as a stand-alone solution that partners will be able to sell. CoreDial also will support existing partners and customers of eZuce’s video, unified communications, and contact center solutions.
The Impact: Businesses already were growing their use of cloud-based collaboration technologies before the coronavirus outbreak, but the onset of the pandemic sent demand soaring as work-from-home, distance learning, and social distancing took hold. Zoom saw participant levels in meetings reach 300 million and companies like Microsoft and Cisco also saw demand spike, convincing vendors to rapidly grow their portfolios and expand their capabilities in the cloud communications space.
The public health crisis combined with other business trends – including greater mobility and the proliferation of mobile devices – is fueling growth in the market. Fortune Business Research is forecasting the videoconferencing market will expand from $3.02 billion in 2018 to $6.37 billion by 2026.
The Buzz: “To say we’re all-in on video would be an understatement. This acquisition underscores our commitment to satisfy the growing demand for enterprise-class video communications solutions for small to medium businesses, as well as large enterprises and vertically focused applications,” CoreDial CEO Alan Rihm said. “In addition to adding innovative and competitive new technology to our portfolio, we’re equally excited to welcome eZuce’s experienced team into the CoreDial family. This acquisition positions CoreDial and our partners to deliver even more value to business customers of all sizes, while providing strong growth opportunities for CoreDial and our channel partners.”
“While video meetings were certainly gaining traction leading into the pandemic, the impact of COVID-19 has exponentially accelerated demand for reliable, secure, and scalable solutions,” said Roopam Jain, senior industry director at global market research firm Frost and Sullivan. “CoreDial’s acquisition of eZuce and its Vibe service is aligned with the dramatic shifts in the future of business communications. As a result of this transaction, CoreDial’s channel partners will be well-positioned to compete in a variety of markets by delivering a comprehensive suite of cloud communications and collaboration that tightly integrates simple yet high-quality video meetings, team chat, cloud calling, and contact center capabilities.”