Video Conferencing Picks Up Amid Air Travel Halt in Mid-April – COWI, CSCO, GLOW
Cisco Systems, Inc. (CSCO), CoroWare, Inc. (COWI) and Glow Point, Inc. (GLOW) could all benefit from a sharp rise in videoconferencing usage, following the recent difficulties faced by airline passengers due to the Icelandic volcano eruption.
“The only evidence is anecdotal, but you will not get a demo room in any of the Cisco facilities,” said Fredrick Halvorsen, former Tandberg CEO, in a recent Reuters article. “We have seen a huge spike in usage.”
The volcanic eruption in Iceland sent tons of ash into the air on April 15, 2010 and virtually halted air traffic across much of Europe. Among the hundreds of canceled flights were business men and women on their way to important company meetings.
The delays in business travel not only cost companies money in travel expenses, which are often not reimbursed unless insured, but also in terms of opportunity cost. Instead of spending time in the office getting work done, many were camped out in airports awaiting a return to normalcy.
Given these delays and the rising cost of flights, many businesses are seeking less costly alternatives like videoconferencing. For a modest monthly fee, businesses can conduct face-to-face meetings through the power of the Internet across the nation and world.
CoroWare’s CoroCall subscription service is one such solution that offers top-of-the-line high definition videoconferencing using Vidyo’s industry leading technology. Monthly plans start at just $60 with affordable hardware to match – compared to costly travel, it’s a bargain to many firms.
Investors also appear to be picking up on the trends, with Cisco Systems’ stock rising around 3% since the volcanic eruption and nearly 50% so far this year. And with the sector hot with acquisitions, many traders are getting in for more reasons than one…
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