ATLANTA and NEW YORK, Dec. 8,
2015 /PRNewswire/ -- Premiere Global Services, Inc. ("PGi")
(NYSE: PGI), the world's largest dedicated provider of
collaboration software and services, today announced the completion
of its acquisition by funds managed or advised by Siris Capital
Group, LLC in a transaction valued at approximately $1 billion.
In addition, Ted Schrafft has
been named PGi's new Chief Executive Officer. Mr. Schrafft, who
served as PGi's President for nine years and has over 35 years of
experience in the technology and business communications
industries, succeeds PGi founder, Boland
Jones, who will be appointed to PGi's new board of
directors.
"PGi has impressed us with its successful strategy, broad
portfolio of unified communications products and services and
long-tenured, global customer base. We believe the company is
uniquely positioned to take advantage of a growing $10+ billion
market opportunity, " said Hubert de Pesquidoux, Siris Capital
executive partner and PGi executive chairman. "We look forward to
working with PGi's experienced leadership team under the guidance
of newly appointed CEO Ted Schrafft
to further PGi's market lead and drive value for our customers and
partners, who increasingly rely on PGi to provide and manage every
aspect of their collaboration experience."
"I am honored to have the opportunity to shepherd PGi into its
next chapter, partnering with Siris Capital and our new
directors. The leadership team's management experience and
industry expertise is backed by a likeminded, deep commitment to
driving PGi's continued success," said Schrafft. "I am extremely
grateful for the indelible contributions and leadership of
Boland Jones, who built PGi into
what it is today, and look forward to building upon this
legacy."
Commenting on the news, Boland
Jones, PGi founder and former CEO said: "This is an exciting
time at PGi, and I look forward to working closely with the new
board to continue to build upon our successful track record.
There's no one better suited to take the reins at PGi than
Ted Schrafft, whose leadership
skills and business acumen are second to none. I am certain that
PGi is in the best possible hands."
The transaction, which was initially announced on September 10, 2015, was approved by a majority of
PGi shareholders on December 3, 2015.
In connection with the closing of the transaction, the company,
which will continue to operate as Premiere Global Services, Inc.,
will be wholly owned by an affiliate of Siris Capital.
About Premiere Global Services, Inc. │ PGi
PGi is the
world's largest dedicated provider of collaboration software and
services. We created iMeet®, an expanding portfolio of
purpose-built applications designed to meet the daily collaboration
and communications needs of business professionals, with solutions
for web, video and audio conferencing, smart calendar management,
webcasting, project management and sales productivity. PGi's
award-winning UC&C solutions help approximately 50,000
businesses grow faster and operate more efficiently. To learn more,
visit us at www.pgi.com.
About Siris Capital Group, LLC
Siris Capital is a
leading private equity firm focused on making control investments
in data, telecommunications, technology and technology-enabled
business service companies in North
America. Integral to Siris' investment approach is its
partnership with exceptional senior operating executives, or
Executive Partners, who work exclusively with Siris to identify,
validate and operate investment opportunities. Their significant
involvement allows Siris to partner with management to add value
both operationally and strategically. To learn more, visit us
at www.siriscapital.com.
Media Contact:
Sean
O'Brien
(404) 262-8462
sean.obrien@pgi.com
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SOURCE Premiere Global Services, Inc. (PGi)