ATLANTA, Oct. 16, 2014- PGi (NYSE: PGI), a global leader in collaboration software and services for over 20 years, today announced the acquisition of Central Desktop, Inc., a leading cloud-based team collaboration and project management platform for businesses. PGi funded the purchase through its recently increased credit facility and cash and equivalents on hand.
"Joining forces with Central Desktop and its talented team is an important strategic move for PGi," said Boland T. Jones, PGi founder, chairman and CEO. "Today's workplace is evolving—teams are more flexible, mobile and dispersed than ever before. As leaders in collaboration for over 20 years, we recognize the need for those teams to work together whenever and however they choose. The acquisition of Central Desktop extends PGi's collaboration expertise beyond real-time meetings, creating a truly unified collaboration platform for how business works today."
"The acquisition of Central Desktop enables PGi to offer a more comprehensive collaboration suite across the growing market for collaborative applications," said Vanessa Thompson, Research Director, Enterprise Social Networks and Collaborative Technologies at IDC. "IDC estimates the Collaborative Applications market to grow to $5.7 billion by 2018. This acquisition also highlights the notion that organizations will increasingly look to a single consolidated offering that can filter and deliver content in real time and in context across multiple collaboration modalities."
Central Desktop's platform connects people and information in the cloud, enabling teams to collaborate around files, combine knowledge, inspire ideas and manage projects—at any time, from anywhere in the world. More than half a million users worldwide trust Central Desktop's team workspace and project management software to launch marketing campaigns, manage global projects, collaborate with contractors and agencies, connect cross-departmental teams and more. Pasadena-based Central Desktop has a current projected annual revenue run rate of approximately $9 million.
"We are thrilled to join PGi, a company that shares our passion for helping business people work together," said Isaac Garcia, Central Desktop co-founder and CEO. "Collaboration is an increasingly important investment for companies of all sizes. With PGi's support and industry expertise, we can empower our customers to work how they want with unified collaboration solutions that drive success and business growth."
PGi anticipates the acquisition of Central Desktop will be neutral to non-GAAP diluted earnings per share in 2014. 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.