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Startup News: Slack (WORK) Buys Corporate Directory Company Rimeto

Financial details of the deal weren't revealed

Rimeto is at the head of startup news on Wednesday as Slack (NYSE:WORK) acquires the directory company.

Startup News: Slack (WORK) Buys Corporate Directory Company Rimeto
Source: Sundry Photography / Shutterstock.com

Slack says that the acquisition of Rimeto will have it integrating the company’s directory functions into its own services. To go along with this, it will also continue to separately offer the company’s services to businesses.

Slack points out that acquiring Rimeto makes sense as both companies share a similar function. Slack makes it easier for employees to communicate and Rimeto’s directory system allows for easier searching of employees.

Here’s what Slack has to say about the startup acquisition news.

“Rimeto offers an enterprise wide, searchable directory, automatically integrating information from across your company to deliver rich profiles of every employee, their skills, experience, and current projects. It’s a natural fit with Slack. Channels make it easy to find the information you need and understand what your team is working on. Now we’re going to make it just as easy to find the people you need and understand the humans you’re working with.”

Rimeto notes in its own news release that it will continue to work with companies already making use of its services. It also mentions that this acquisition will bring its services to more than 750,000 organizations that use Slack.

Neither Slack nor Rimeto revealed financial details of the deal in their news releases.

WORK stock was up 7.9% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/07/startup-news-slack-buys-rimeto/.

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