ATLANTA, GA, July 27, 2005 - Premiere Global Services, Inc. (NYSE: PGI), a global outsource provider of business communications services and business process solutions, today announced it signed a definitive agreement to acquire Netspoke, Inc. for $23.2 million, net of working capital. The acquisition is expected to close in early August 2005, and the Company plans to fund the purchase with its bank credit facility.
Boston-based Netspoke is one of the fastest growing integrated collaboration companies in the United States with trailing twelve month revenue of approximately $12.3 million. The acquisition is expected to add approximately $5 million to Premiere Global's revenues in 2005 and to be accretive to its earnings following integration.
"I am excited to welcome Netspoke and its diverse base of middle market customers to our growing Company," said Boland T. Jones, Founder, Chairman and CEO of Premiere Global Services, Inc. "Its Web collaboration platform offers an easy-to-use, intuitive interface and is recognized as an industry-leader. We believe the increased functionality offered by the Netspoke platform will help accelerate our entrance into a number of key markets, including training, sales automation and distance learning."
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; possible adverse results of pending or future litigation or infringement claims; 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 Affecting Future Performance” section of our Annual Report on Form 10-K for the year ended December 31, 2004. All forward-looking statements attributable to us or a person acting on our behalf are expressly qualified in their entirety by this cautionary statement.