ATLANTA, Sept. 22, 2014 /PRNewswire/ -- PGi (NYSE:
PGI), a global leader in collaboration software and services for
over 20 years, today announced the acquisition of TalkPoint
Holdings, L.L.C., a leading provider of webcasting software and
services. PGi funded the purchase through its recently increased
credit facility and cash and equivalents on hand.
"We are thrilled to welcome the TalkPoint team to the growing
PGi family," said Boland T. Jones,
PGi founder, chairman and CEO. "TalkPoint's award-winning
technology strengthens PGi's suite of collaboration software and
services and furthers our mission to help businesses improve
productivity, accelerate innovation and increase revenue growth.
The acquisition positions PGi as a clear leader in the high-growth,
$500-plus million webcasting
market."
"With the acquisition of TalkPoint, PGi is doubling down on its
strategy to deliver an array of high-quality business
communications solutions that make it possible for users to engage
at their desks, on their mobile devices or in conference rooms,"
said Steve Vonder Haar, Senior
Analyst, Wainhouse Research. "TalkPoint's impressive growth and
strong go-to-market strategy have made it a success in the web
event services market, and this deal helps PGi expand on its
established position as a leading provider of one-to-many
webcasting services."
Based in New York City,
TalkPoint has operations in North
America and the United
Kingdom and a current projected annual revenue run rate of
approximately $18 million. Its
cloud-based Convey™ platform provides self-service and fully
managed audio and video webcasting for events with up to 10,000
attendees. TalkPoint's technology works with a user's existing
telephone, webcam, video conferencing room or video encoder, with
no special hardware needed. TalkPoint webcasts work through a
standard Internet browser on any desktop, tablet or mobile device
with no downloads required. Today, TalkPoint enables more than 300
enterprises, including many of the world's largest financial
services, pharmaceutical and publishing firms, to host internal
town hall meetings, demand generation webinars and other
mission-critical communications to large audiences.
"We have long admired PGi's customer-first mentality and
commitment to innovation," said Nick
Balletta, CEO of TalkPoint. "As business continues to become
more and more global, TalkPoint customers and partners need
webcasting solutions that enable them to communicate and
collaborate effectively anywhere in the world. With PGi's global
delivery, customer care and sales distribution, TalkPoint's growth
opportunities increase exponentially."
PGi anticipates the acquisition of TalkPoint will be accretive
to non-GAAP diluted earnings per share. PGi plans to provide a
revised financial outlook for 2014 when it releases its
third-quarter results.
About Premiere Global Services, Inc. │ PGi
PGi has
been a leading global provider of collaboration software and
services for over 20 years. PGi's cloud-based software applications
empower business users to connect, collaborate and share ideas and
information from their desktop, tablet or smartphone, enabling
greater productivity in the office or on the go. PGi has a global
presence in 25 countries, and its award-winning solutions
provide a collaborative advantage to over 45,000 enterprise
customers, including 75% of the Fortune 100™. In the last five
years, PGi has hosted more than 1.1 billion people from 137
countries in over 250 million virtual meetings. For more
information, visit PGi at pgi.com.
Statements made in this press release, other than those
concerning historical information, should be considered
forward-looking and subject to various risks and uncertainties,
many of which are beyond our control. Such forward-looking
statements are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and are made based
on management's current expectations or beliefs as well as
assumptions made by, and information currently available to,
management. A variety of factors could cause actual results to
differ materially from those anticipated in PGi's forward-looking
statements, including, but not limited to, the following factors:
competitive pressures, including pricing pressures; technological
changes and the development of alternatives to our services; market
acceptance of PGi's SaaS products, including iMeet® and
GlobalMeet®; our ability to attract new customers and to
retain and further penetrate our existing customers; our ability to
establish and maintain strategic reseller and distribution
relationships; risks associated with challenging global economic
conditions; price increases from our telecommunications service
providers; service interruptions and network downtime, including
undetected errors or defects in our software; technological
obsolescence and our ability to upgrade our equipment or increase
our network capacity; concerns regarding the security and privacy
of our customers' confidential information; future write-downs of
goodwill or other intangible assets; greater than anticipated tax
and regulatory liabilities; restructuring and cost reduction
initiatives and the market reaction thereto; our level of
indebtedness; risks associated with acquisitions and divestitures;
indemnification claims from the sale of our PGiSend business; our
ability to protect our intellectual property rights, including
possible adverse results of litigation or infringement claims;
regulatory or legislative changes, including further government
regulations applicable to traditional telecommunications service
providers and data privacy; risks associated with international
operations and market expansion, including fluctuations in foreign
currency exchange rates; and other factors described from time to
time in our press releases, reports and other filings made with the
Securities and Exchange Commission, including but not limited to
the "Risk Factors" section of our Annual Report on Form 10-K for
the year ended December 31, 2013. All
forward-looking statements attributable to us or a person acting on
our behalf are expressly qualified in their entirety by this
cautionary statement. We do not undertake any obligation to update
or to release publicly any revisions to forward-looking statements
contained in this press release to reflect events or circumstances
occurring after the date of this press release or the date of the
statement, if a different date, or to reflect the occurrence of
unanticipated events.
Media and Investor Contact:
Sean O'Brien
(404) 262-8462
sean.obrien@pgi.com
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SOURCE PGi