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LoopUp to launch video capability and operator-assisted calls

The conference call and remote meetings firm said the video functionality would be added to its flagship SaaS product for remote business meetings and rolled out to all existing customers

Video conference call
LoopUp said the video capability would provide an additional source of revenue

LoopUp Group PLC (LON:LOOP) has said it is to launch a video functionality and an operator-assisted call option, unveiling the additions to its product suite ahead of a capital markets day on Thursday.

The conference call and remote meetings firm said the video functionality would be added to its flagship software-as-a-service (SaaS) product for remote business meetings and rolled out to all existing customers in a phased programme.

READ: LoopUp flying as it identifies bigger post-merger cost savings than originally envisaged

LoopUp said that new functionality would expand the market for its products as well as providing an additional source of revenue.

Steve Flavell and Michael Hughes, co-chief executives of LoopUp, said the video option was in keeping with their broader strategy of keeping the conference call experience “simple, unintimidating and consumable”.

“It is very much 'video the LoopUp way' and we're excited about the impact that we believe this approach can have in the mainstream user market and on our business", they added.

In addition to the video functionality, the company also announced the launch of ‘Event by LoopUp’, an operator-assisted call service that is designed to handle large calls or those that require detailed planning.

The company said it planned to grow the business line through cross-sales from its international account management structure.

In early trading on Thursday, LooUp shares were steady at 317.5p.

--Adds share price--

Quick facts: LoopUp Group PLC

Price: 58.66 GBX

AIM:LOOP
Market: AIM
Market Cap: £32.41 m
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