Atlanta-based Premiere Global Services Inc., a company that helps corporate clients hold virtual meetings using digital devices, said it is acquiring a London-based company that provides complementary conferencing services.
PGi, as the company is known, said it is acquiring Via-Vox for about $52.6 million in cash. Via-Vox, known by its trading name Powwownow, has about 240,000 enterprise customers, mostly small and medium sized businesses, in the United Kingdom, France and Germany.
In September, PGi announced it had acquired ACT Conferencing Inc. for about $44 million cash.
PGi says the acquisition of Powwownow will make it the second-largest provider of conferencing services in Europe. The Atlanta company said it has more than 40,000 enterprise customers globally and has hosted more than 200 million virtual meetings over the last five years.
“Powwownow’s dominance in the SMB (small and medium sized businesses) space in the U.K. makes it a valuable acquisition for PGi,” said founder Boland T. Jones in announcing the deal.
Based on current business trends and foreign currency exchange rates, PGi expects 2014 net revenues from continuing operations to be $560 million to $570 million, compared with $523 million to $525 million for 2013. The company expects diluted earnings per share to be 85 cents to 88 cents in 2014, compared with 78 cents to 79 cents this year.
About the Author
