Hughes Hubbard & Reed represented ACT Teleconferencing in its sale to Premiere Global Services (PGi) for $53 million in cash, subject to adjustment. The transaction was announced Sept. 4.
Atlanta-based PGi acquired Colo.-based ACT from longtime Hughes Hubbard client Dolphin Direct Equity Partners, a private investment firm focused on microcap companies. “We are excited to join forces with PGi, a company that shares our culture and commitment to delighting users,” said ACT Chairman and Chief Executive Peter Salas.
With a global presence in 25 countries and more than 40,000 customers, PGi provides virtual meetings through video, voice, mobile, web- streaming and file-sharing technologies. With a reputation for operational excellence and world-class service quality, ACT offers audio, video and web collaboration services, with operations in eight countries across the globe.
The Hughes Hubbard team that advised ACT included Gary Simon, Jim Bluck, Spencer Harrison, Arinze Ike, Veronica DiCamillo, Nyana Miller and Erin DeCecchis.