AUSTIN, Texas, July 25, 2019 /PRNewswire/ -- ESW Capital LLC has acquired Sococo, Inc., a leader in empowering distributed teams in the virtual online workplace, through a prepackaged Chapter 11 corporate reorganization. Sococo will become part of ESW's Think3 portfolio, enabling the future of work through distributed teams and remote workers across more than 100 countries. Sococo's virtual office platform lets companies embrace the global distributed work revolution while maintaining the collaboration, culture, employee engagement/satisfaction, and business results that are expected when teams are co-located. Think3's innovative leadership and agile approach combined with Sococo's technology and capabilities will provide the momentum to allow organization to come together in a virtual environment, regardless of distance.
"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," said Marc Kirshbaum, former chairman and CEO of Sococo.
ESW and Think3 have a strong history of strengthening and growing companies - developed from acquiring 75 companies over the last 15 years. Sococo customers will now be enrolled in the ESW/Think3 Customer Success program. This program is a proven approach for building strong customer partnerships and aligning product development with customer priorities. Sococo will also become a key component of the Think3 PRIME program giving customers the opportunity to utilize software across the portfolio at no additional charge.
Andy Tryba, Think3 founder, with more than 20 years of experience managing global companies for growth and profitability, is the new CEO of Sococo. "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," said Andy Tryba, founder and CEO of Think3. "Think3 looks forward to investing in and accelerating the growth of Sococo's virtual workplace platform so that every distributed team and organization can benefit from coming to work in Sococo."
Sococo and Think3 are committed to helping current and future customers boost employee engagement, satisfaction and productivity to deliver increased and measurable business results.
Think3 is a $1 billion private equity fund designed to enable SaaS founders to take more shots on goal. As a completely new kind of fund backed by proven experience in successful company acquisitions, we believe entrepreneurs should think of their careers as a portfolio and sell their companies earlier to move on to their next high-growth venture. We purchase SaaS companies and enable a unique transition process that empowers founders and their teams to then launch their next startup. For more information, please visit www.think3.com.
Sococo is the online workplace where distributed teams come to work each day, side-by-side, no matter where team members might be. The Sococo Office Map allows individuals to be visible and present with colleagues in their online office, bringing real-time collaboration to life in a way that is not available through traditional messaging and collaboration tools. Distributed teams that work in their Sococo online office uniquely and measurably overcome distance to establish human connection, build trusting relationships, and get work done. Work from anywhere while maintaining the benefits of co-location by coming to work in Sococo. Learn more at www.sococo.com and follow us on Twitter, Facebook, and LinkedIn.