ATLANTA, GA, July 17, 2007 - Premiere Global Services, Inc. (NYSE: PGI), a global provider of on-demand business process improvement solutions, today announced that it has acquired a Web-based conferencing services provider for approximately $19 million.
The acquired company offers a full suite of conferencing solutions, primarily through a sophisticated Web sales engine that targets small- and medium-sized businesses. PGI plans to leverage the acquired company's expertise and technology within its portal, PGiConnect.com, to accelerate its Web sales channel growth. The acquired company has an annualized revenue run rate of approximately $10 million, and PGI anticipates the acquisition will be accretive to earnings in 2008.
"This acquisition continues our investment strategy of consolidating smaller conferencing services providers that bring us new growth opportunities," said Boland T. Jones, Founder, Chairman and CEO of Premiere Global Services, Inc. "This company acquires nearly all of its customers via the Web, and we believe it will bring us additional know-how and domain expertise to further our online strategy. We look for this acquisition to contribute to the already significant growth we are generating in our Conferencing Solutions and to benefit Web sales of our entire suite of PGi Communications Operating System solutions."
About Premiere Global Services, Inc.
Premiere Global Services, Inc., formerly Ptek Holdings, Inc., is a leading global provider of innovative business communications and data services. Customers use our ASP platform to conduct traditional and VoIP-based collaboration sessions and to process and deliver large quantities of individualized, business critical information. Premiere Global offers outsourced document delivery, data capture, alerts/notifications and campaign management solutions that automate customers' business processes and improve efficiency levels enterprise-wide. We also offer a full suite of conferencing solutions, including automated, operator-assisted and Web collaboration services that enable customers to communicate real-time via our advanced, open standards global conferencing platform.
Premiere Global serves more than 46,000 corporate accounts in nearly every business sector, throughout 18 countries worldwide. Our corporate headquarters is located at 3399 Peachtree Road NE, Suite 700, Atlanta, GA 30326. Additional information can be found at www.pgi.com.
Forward-looking and cautionary statements
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. 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 Premiere Global Services' forward-looking statements, including, but not limited to, the following factors: competitive pressures, including pricing pressures; technological change; the development of alternatives to our services; market acceptance of our new services and enhancements; integration of acquired companies; service interruptions; increased financial leverage; our dependence on our subsidiaries for cash flow; continued weakness in our legacy broadcast fax business; foreign currency exchange rates; possible adverse results of pending or future litigation or infringement claims; federal or state legislative or regulatory changes; general domestic and international economic, business or political conditions; and other factors described from time to time in our press releases, reports and other filings with the SEC, including but not limited the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2005 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2006 and September 30, 2006. All forward-looking statements attributable to us or a person acting on our behalf are expressly qualified in their entirety by this cautionary statement.