Virtual Office Featured Article

Sococo Acquisition Pushes Virtual Office Teams Forward

August 02, 2019
By Stefania Viscusi

Today’s modern workplace is made up of employees who aren’t all located in the same physical place. Remote work is more than a growing trend and thanks to the borderless capabilities of Internet communications, more businesses are choosing to expand their hiring practices to include a skilled labor pool outside of their local areas.

This new way of work is driving down costs, increasing productivity and helping companies to reach their goals.

In a move to continue investing in the future of remote teams, ESW Capital has announced it acquired virtual office platform provider Sococo.

As part of the Chapter 11 corporate reorganization package, the company's offerings will now become a part of ESW's Think3 portfolio. This will allow more companies to have remote teams that work efficiently and effectively through the virtual work platform.

Together, ESW and Think3 have have acquired 75 companies over the last 15 years. Their Customer Success program, which Sococo customers will now be enrolled in,  is focused on building strong customer partnerships and aligning product development with customer priorities.

Marc Kirshbaum, former chairman and CEO of Sococo commented on the recent purchase saying, "Sococo is excited about the potential for our innovative technology and extensive intellectual property to propel the Sococo vision and community forward as a part of Think3.”

With Sococo's virtual office platform, it’s possible to have employees located across the globe collaborate and work together with one another in a way to continue to foster a team environment and boost company culture even with co-located teams.

Andy Tryba, founder and CEO of Think3, will assume the role of CEO at Sococo. Commenting on the value the new deal brings to companies Tryba said, “Sococo's unique ability to recreate presence, enable distributed teams to work side-by-side and maintain the benefits of co-location is a transformative value proposition that strengthens Think3's portfolio of innovative businesses.”

Edited by Maurice Nagle

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