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BT Conferencing Acquires Wire One Holdings
June 4th, 2008 by Video Conferencing Expert
BT Conferencing, a global provider of audio and video conferencing and web collaboration solutions, announced on Monday that it has completed the acquisition of Wire One Holdings, a specialist videoconferencing company, for an undisclosed price. Wire One has a large base in the Asia-Pacific markets, an area that BT is interested in tapping into.
CEO of BT Conferencing, Aaron McCormack:
[Wire One Holdings] is one of the leaders in videoconferencing and is a great acquisition for [BT]. Last year it was a £150m market; this year we are looking at £250m. In the first quarter it was a bit soft but this quarter it is very robust. We are looking at growth of anywhere between 25 and 40 percent, depending on who you talk to.’”
McCormack also claims there is now a stronger market for videoconferencing due in large part to environmental concerns and a slowing global economy. BT’s purchase of Wire One was completed five weeks ago but the company has waited to make a full announcement until some final details had been settled.