RingCentral (RNG) / Avaya Partnership Adds 100 Million Seat Opportunity - William Blair

William Blair analyst Bhavan Suri reiterated an Outperform rating on RingCentral (NYSE: RNG) after the two companies announced the intent to introduce a co-branded offering called “Avaya Cloud Office by RingCentral,” or “ACO,” and leverage Avaya’s channel relationships to address the cloud transition opportunity for Avaya’s massive installed base.

The analyst stated "We view this deal as an exciting opportunity for RingCentral, providing effective access to over 100 million on premise unified communications (UC) seats that we expect will transition to cloud solutions over time. We are positive on the deal and remain positive on the stock as we believe that this partnership has the potential to contribute to revenue acceleration over time".

For an analyst ratings summary and ratings history on RingCentral click here. For more ratings news on RingCentral click here.

Shares of RingCentral closed at $127.54 yesterday.

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