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Premiere Global Services Inc Announces Acquisition Of ACT Teleconferencing Inc-Form 8-K

Thursday, 5 Sep 2013 06:00am EDT 

Premiere Global Services Inc reported in its Form 8-K that the acquisition of ACT Teleconferencing Inc., or ACT, a global provider of integrated conferencing solutions, pursuant to an agreement and plan of merger by and among PGi, certain of PGi’s subsidiaries, ACT and certain of ACT’s shareholders. The Company funded the aggregate purchase price of $53 million in cash, subject to net monetary asset adjustments as provided in the merger agreement, through recently amended credit agreement and cash and equivalents on hand. The resulting purchase price is approximately $44 million, net of excess working capital. 

Company Quote

-1.3 -11.04%
24 Oct 2014