HELSINKI (Reuters) - Video technology start-up Vidyo unveiled on Friday a deal to supply its software to Ricoh’s (7752.T) new small videoconferencing offering, which it expects to “significantly disrupt” the $3 billion equipment market.
Ricoh’s latest offering shrinks corporate videoconferencing gear to the size of a laptop, challenging systems of market leaders Cisco Systems (CSCO.O) and Polycom PLCM.O that are usually linked to dedicated rooms.
“This can significantly disrupt the market,” Vidyo co-founder and chief executive Ofer Shapiro told Reuters. “Any room can be a video conferencing room. This market could become as big as traditional room system market.”
New Jersey-based Vidyo, whose software platform is also used by Google (GOOG.O) and Hitachi (6501.T), has raised $74 million from investors including Menlo Ventures, Sevin Rosen Funds, Star Venture and Rho Ventures.
Reporting by Tarmo Virki; Editing by Gary Hill