Fintech meet up
05 Dec 2013 | 02:06 pm | 1 min. read
International law firm Pinsent Masons has advised on the $52.6 million sale of conference call and collaboration provider Via-Vox to PGi.
Corporate partner Andrew Hornigold and corporate associate Ian Montgomery led a team advising the conference call company trading under the name Powwownow. The acquisition will see PGi expand its customer base into the SME sector in the UK and across Europe.
Commenting on the deal, Hornigold said: "This deal not only demonstrates Pinsent Masons' corporate expertise but highlights our knowledge and understanding of the technology sector."
Montgomery added: "Powwownow is a well respected brand in the conferencing industry and has seen staggering growth in the UK and a has established a bridgehead into European markets. We are delighted to have advised on a deal which is transformational for both companies."
With approximately 240,000 users in the UK, France and Germany. Powwownow is a leading name in the audio, video and web conference sector focused on small to medium sized businesses. PGi is a global collaboration business operating across 137 countries.
Powwownow founder and CEO, Paul Lees, said: “Joining forces with PGi, one of the original innovators in the conferencing and collaboration industry worldwide, expands the scale, reach and service options available to Powwownow customers. Powwownow brings PGi new go-to-market capabilities, including our brand awareness, small business marketing expertise and online infrastructure. We are thrilled to join the PGi family. With regard to the sale we found Pinsent Masons easy to deal with, overcoming obstacles seamlessly and showing great decision making, responsiveness and application at all levels.”
Fintech meet up
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