RingCentral Acquires Security Technology to Deliver More Secure Business Communications and Video Meetings

Rhea-AI Summary

RingCentral (NYSE: RNG) has acquired the technology and engineering team from Kindite, focusing on advanced cryptographic technologies to enhance security within its cloud communications platform. This acquisition integrates unique key orchestration technologies, promoting a secure 'zero-trust' environment for cloud applications. The new capabilities are set to bolster RingCentral's commitment to security, including end-to-end encryption, benefiting users globally. The transaction closed in Q1 2021, and its financial impact is not expected to be material for the quarter ending March 31, 2021.

Positive

• Acquisition enhances RingCentral's security capabilities with advanced cryptographic technologies.
• Integration of unique key orchestration technologies supports a secure 'zero-trust' cloud environment.
• Strengthening of end-to-end encryption to benefit global customers.

Negative

• None.

RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced the acquisition of the technology and engineering team at Kindite, a developer of leading cryptographic technologies that mitigate and reduce security and privacy risks to information and applications in the cloud. The new technology will be incorporated into RingCentral’s global communications platform, providing customers with enhanced security capabilities including end-to-end encryption.

“Security and reliability are paramount in enabling employees to work from anywhere,” said Heather Hinton, chief information security officer at RingCentral. “With this team’s leading-edge security technology, we will accelerate our ability to deliver end-to-end encryption and continue to enhance our commitment to deliver the highest level of security capabilities for our global communications platform, benefiting customers everywhere.”

The Kindite engineering team has developed a data-protection platform that incorporates a unique set of cryptographic key orchestration technologies which delivers enhanced security, privacy and compliance. These technologies allow cloud applications to process encrypted data without decryption, creating a secure “zero-trust” cloud environment.

“We established Kindite to bring the very latest technological capabilities to address security and privacy in the cloud,” said Maor Cohen, co-founder and CEO of Kindite. “It’s fantastic we can bring these security capabilities to customers around the world while enhancing the RingCentral platform with the next generation of security technologies.”

RingCentral will use Kindite as a cornerstone for building its world-class security capability. The terms of the transaction were not disclosed. The transaction closed in Q1 2021 and is not estimated to have a material financial impact for the quarter ending March 31, 2021.

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact center solutions based on its powerful Message Video Phone™    (MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral offers three key products in its portfolio including RingCentral Office® , a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and a cloud phone system; Glip ®  the company's free video meetings solution with team messaging that enables Smart Video Meetings™; and RingCentral cloud Contact Center  solutions. RingCentral’s open platform integrates with leading third party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

© 2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone,   MVP, RingCentral Office, Glip, Smart Video Meetings and the RingCentral logo are trademarks of RingCentral, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210322005252/en/

FAQ

What is the purpose of RingCentral's acquisition of Kindite?

The acquisition aims to enhance security capabilities within RingCentral's cloud communications platform by integrating advanced cryptographic technologies.

What new technology will be available after RingCentral's acquisition of Kindite?

RingCentral will incorporate Kindite's cryptographic key orchestration technologies, which support processing encrypted data without decryption, fostering a secure environment.

When did RingCentral acquire Kindite?

The acquisition was completed in Q1 2021.

What is the financial impact of the Kindite acquisition on RingCentral?

The transaction is not estimated to have a material financial impact for the quarter ending March 31, 2021.

How will the acquisition of Kindite benefit RingCentral customers?

Customers will benefit from enhanced security capabilities, including improved end-to-end encryption, contributing to safer cloud communications.