Shares of RingCentral have advanced 54% since the company announced at the start of October that it would become the exclusive provider of cloud-based UC solutions to Avaya. After rising 104% last year, RingCentral stock is up 17% YTD. Last week, the shares hit a new all-time high of $201.61.
Robert DeFrancesco, Forbes
This looks to be a strong expansion year for RingCentral, as the company is already ramping up the Avaya partnership, which closed on October 31. As part of the arrangement, the two companies are working together to develop programs to make sure Avaya’s on-premises UC customers have an easy transition to the cloud.
Automated configuration tools will be jointly developed to reduce complexities and simplify the migration. Also, the companies are collaborating to introduce a new solution built on RingCentral’s technology platform called Avaya Cloud Office (ACO). Set for a Q1 launch, ACO should start to move the needle in terms of financial contribution by the end of 2020, providing a tailwind for 2021.
Earlier today, we broke the news about the partnership between Avaya and Noble Systems.
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