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Alphabet (GOOGL) Workspace Buys Playspace, Expands Offerings

Alphabet’s GOOGL division Google has been consistently strengthening the productivity and collaboration platform named Google Workspace on the back of new features as well as strategic acquisitions.

Per a latest report from 9TO5Google, the company has entered into a definitive agreement to acquire a video, screenshare and whiteboard collaboration software named Playspace.

Playspace provides a creative and interactive platform for meetings, brainstorms and team hangs.

It also features a navigation drawer showing a list of Today’s Meetings, people (with status indicators) and Rooms. Rooms offer tools such as whiteboard, text scratchpad and a feature that allows a group to listen to the same songs.

Additionally, it includes a tool called Magic Screenshare that teleports everyone to one desktop for collaborative editing and annotation.

It also includes other tools like One-click join, Calendar links, Slack integration, Personalized links, Recordings and Live streaming for seamless integration into workflows.

With Playspace, the company strives to provide enhanced experience to Google Workspace users.

Strength in Google Workspace

The buyout of Playspace is likely to expand Google Workspace’s offerings. This is expected to drive Google’s momentum across organizations that are highly demanding productivity and collaboration software applications amid the coronavirus pandemic.

Apart from the latest move, it recently added the Time Insights Feature to Google Calendar in order to help paid Workspace users manage time efficiently.

The company also added new features to Google Meet, through which users can get notifications when there is echo on video calls.

It also updated Google Tasks and introduced new features to help Workspace users in quickly switching lists.

Further, the company added advanced features to Google Contacts that help Workspace users to know their colleagues.

Growing Competition

With the latest move, Google is expected to gain a competitive advantage against other organizations like Microsoft MSFT, Dropbox DBX and Apple AAPL that also offer workspace tools as well as productivity applications.

Microsoft365 offers powerful productivity and office tools to help users work, learn, organize and connect. Additionally, it introduced a collaborative digital canvas named Microsoft Whiteboard for effective meetings and learning.

Meanwhile, Dropbox offers a collaborative workspace wherein users can add descriptions, annotations, to-do lists and more to a Dropbox folder, thus ensuring maximum collaborative potential. Additionally, its collaboration with Conceptboard for seamless integration of visual collaboration into a team’s workflows is worth mentioning.

Further, Apple iWork’soffice suite of applications that help users create word-processing documents, spreadsheets and presentations remains noteworthy.

Currently, Google’s parent Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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