Channel-friendly conferencing specialist Premiere Global Services Inc. (PGi) has acquired ACT Teleconferencing, for a cash purchase price of approximately $44 million net of working capital.
PGi funded the purchase through its recently increased credit facility and cash and equivalents on hand.
“Both PGi and ACT Conferencing are trusted by the world’s largest, most discriminating brands for their business-critical collaboration needs,” said Boland Jones, PGi founder, chairman and CEO. “Our companies share a complementary global footprint and a common legacy of industry leadership that spans decades.”
He added, “Our acquisition of ACT Conferencing reinforces PGi as the clear choice for companies looking for innovative collaboration solutions to increase their productivity, accelerate sales and improve their overall business results.”
ACT Conferencing has been providing audio, video and Web collaboration solutions for more than 20 years. It has operations in eight countries across North America, Europe and Asia Pacific, with a current projected annual revenue run-rate of approximately $45 million.
“We are excited to join forces with PGi, a company that shares our culture and commitment to delighting users,” said Peter Salas, ACT Conferencing chairman and CEO. “Our customers will have the opportunity to improve their businesses with PGi’s award-winning Web conferencing solutions, GlobalMeet and iMeet, and its industry-leading global IP audio network, while continuing to enjoy the outstanding service quality and customer care they are accustomed to.”
PGi plans to provide a revised financial outlook for 2013 when it releases its third quarter results.
