BT buys video conferencing company
BT is to acquire Wire One Holdings, a US provider of videoconferencing solutions, from The Gores Group for an undisclosed sum.
is to acquire
, a
provider of videoconferencing solutions.
The acquisition of Wire One will allow BT Conferencing to enhance its existing videoconferencing capabilities and services offering to its customers.
Based in
For the year ended 31 December 2007, the business generated revenues of $140m (£70m).
BT is acquiring Wire One from The Gores Group and the proposed acquisition is contingent upon obtaining the necessary regulatory clearances.
The audited gross assets of Wire One as at 31 December 2007 were $90.5m (£45.25m).
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