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ZOOM VIDEO COMMUNICATIONS, INC.

(ZM)
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OVice Announces Business Partnership With Zoom Video Communications, Inc.

12/02/2021 | 11:00am EST

SAN JOSE, Calif., Dec. 02, 2021 (GLOBE NEWSWIRE) -- oVice (Headquarters: Nanao City, Ishikawa, Japan, CEO: Jung Sae-Hyung, https://ovice.in) has recently agreed and signed a business partnership with Zoom Video Communications, Inc. (Headquarters: California, US, CEO: Eric S. Yuan), the provider of the Zoom video communication platform. This partnership will allow oVice's customers to seamlessly access from its service platform to a Zoom meeting without having to move from one tool to another.

  • Background of the Alliance

In response to the new coronavirus outbreak and the need to renew the work-life, various "ways of working" are being explored as a new norm. Telework, which eliminates the need to go to a physical office, is becoming a more common way of working.

A virtual space "oVice", has been used as a virtual office in telework environments by many companies, local governments, and educational institutions, with more than 10,000 users achieved in 1 year since its launch.

Despite oVice being equipped with a video meeting function, many online meetings with non-oVice users are held using Zoom (due to a larger user base). oVice, Inc. has received many requests from users to integrate Zoom, thus the company decided to form a partnership.

oVice has joined Zoom's ISV Partner Program and will be able to provide services and solutions powered by Zoom that will support hybrid work styles.

  • Benefits of Zoom Integration

With the Zoom integration, oVice users can now have a seamless meeting from oVice without having to move between both tools. They will also have the ability to view which users are in which Zoom meeting, making it easier to shuffle between multiple Zoom meetings at once. This will also encourage more interactive collaboration between users.

  • Comments on the Alliance From Representatives of Both Companies

Paul Magnaghi, Global ISV Partner Program Leader, Zoom Video Communications, Inc.:

"We are excited to have oVice join our ISV Partner Program. Zoom has been partnering with multiple virtual office and virtual events solutions through the ISV Partner Program. Having oVice join us from Japan is great news for our international expansion. We look forward to providing a better online meeting experience to oVice's customers through this partnership."

Sae Hyung Jung, Founder & CEO, oVice, Inc.:

"oVice has been used as a virtual office for many companies, but these companies use Zoom for web conferencing, and many have asked for service integration. Through this partnership, we hope to make it possible for many people to work online comfortably, and to create an environment that will encourage hybrid work styles in the future."

  • Future Prospects

oVice is a two-dimensional virtual space where people interact as avatars and can freely move on the web and easily talk to others by bringing their avatar closer.

Since its launch in August 2020, oVice has been used on more than 10,000 occasions.

Featuring a wide variety of use cases, including virtual offices for telework, online event spaces, and virtual campuses for education, etc., an increasing number of companies have connected their virtual spaces into "buildings" where employees from the entire company work.

In order to further develop as a "virtual real estate" company, oVice will not only acquire more users and raise awareness in remote work, but also develop technology that can be used comfortably in hybrid work and work with third parties to enhance the scalability of the service.

  • Contact

Public relations: media@ovice.co

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Image 1: oVice, Inc. Partners with Zoom Video Communications, Inc.


oVice, Inc. providing virtual spaces for effective remote communication announces a business partnership with Zoom Video Communications



This content was issued through the press release distribution service at Newswire.com.

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oVice, Inc. Partners with Zoom Video Communications, Inc.

oVice, Inc. Partners with Zoom Video Communications, Inc.
Source: Zoom Video Communications, Inc.

2021 GlobeNewswire, Inc., source Press Releases - Canada

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Financials (USD)
Sales 2022 4 082 M - -
Net income 2022 1 098 M - -
Net cash 2022 3 253 M - -
P/E ratio 2022 44,0x
Yield 2022 -
Capitalization 46 854 M 46 854 M -
EV / Sales 2022 10,7x
EV / Sales 2023 8,86x
Nbr of Employees 3 871
Free-Float -
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Number of Analysts 28
Last Close Price 157,23 $
Average target price 272,50 $
Spread / Average Target 73,3%
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Eric S. Yuan Chairman, President & Chief Executive Officer
Kelly S. Steckelberg Chief Financial Officer
Harry D. Moseley Global Chief Information Officer
Brendan Ittelson Head-Global Customer Support
Aparna Bawa COO, Chief Legal Officer & Secretary
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