Premiere Global Services acquires Powwownow for $52.6M

Premiere Global Services (PGI) acquires SMB-focused conferencing/collaboration provider Powwownow for $52.6M in cash.

The company states the acquisition positions it as the second largest independent conferencing/collaboration provider in Europe.

Powwownow serves 240K active users in the U.K., France, and Germany with an annual revenue run-rate of $22M.

Management affirms that 2013 results will be in the ranges provided in Oct., with revenue of $523M-$525M and EPS of $0.78-$0.79. 2014 revenue is seen at $560M-$570M (vs. consensus of $546.5M) and EPS at $0.85-$0.88 ($0.81), with SaaS-based product sales growing over 50% Y/Y to over 10% of the overall revenue run-rate by year end.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs