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Arkadin to Acquire ConferencePlusSolidifies Global Leadership and Momentum in Cloud-Based Collaboration Services (December 21, 2011)
PARIS -- (Marketwire) -- 12/21/11 -- Arkadin, a leading global provider of collaboration solutions, has entered into a definitive agreement to acquire ConferencePlus, Inc., a conferencing services provider and a subsidiary of Westell Technologies, Inc. (NASDAQ: WSTL). The acquisition enables Arkadin to significantly increase its market share by becoming the third largest independent collaboration service provider in North America and by consolidating its number two position in Europe and Asia. The transaction is expected to close on December 31, 2011.
ConferencePlus provides Arkadin with a complementary set of services, an expanded presence in North America and Europe, and a company with a shared vision for a best-in-class customer experience. This vision is central to Arkadin's growth since it was founded in 2001. With the market for conferencing services expected to increase significantly to 7 Billion Euros in 2015, Arkadin is well positioned to accelerate its already strong growth globally.
"This is a strategic acquisition of a company that shares our vision. Together with ConferencePlus, we will continue to execute on our strategy for global expansion and growth by delivering a complete suite of collaboration services with the best local customer experience," said Olivier de Puymorin, CEO and founder, Arkadin. "And as the collaboration market matures into unified communications, we will be uniquely positioned as customers seek a strong and experienced partner."
Founded in 1988, ConferencePlus has built an impressive installed base of customers, from global Fortune 1000 companies to small- and medium-sized enterprises as a result of a dedicated focus on a superior customer experience. With the addition of ConferencePlus, Arkadin will have more than 26,000 clients globally.
Christophe Reyes, Executive Vice-President, Europe, added: "ConferencePlus's European footprint will bolster our leadership position and growth potential in the region. Their depth of operations in North America will appeal to many of our clients and prospects who have global collaboration requirements."
Arkadin is a global Collaboration Service Provider, offering audio, web and video conferencing solutions. Arkadin enables organizations to communicate and collaborate using customizable, cost-efficient, user-friendly solutions. Founded in 2001, Arkadin has 47 operating centres in 28 countries throughout Asia, Europe, Middle East, Africa, Latin America and North America, offering a full suite of remote collaboration solutions to more than 14,000 clients. To find out more about Arkadin please visit www.arkadin.com.
Q Advisors, a Denver and San Francisco based investment banking boutique, acted as the exclusive financial advisor to Arkadin, in connection with the transaction.
ConferencePlus, a leading global provider of audio, video, webcasting and web conferencing services, is dedicated to providing high quality, reliable conferencing services that customers trust with their most important events. ConferencePlus is leading the way in providing innovative IP-based collaboration solutions backed by proven technology and exceptional customer service. Headquartered in Schaumburg, Illinois with an international headquarters in Dublin, Ireland, ConferencePlus is a subsidiary of Westell Technologies, Inc. (NASDAQ: WSTL). Additional information about ConferencePlus can be obtained by visiting www.conferenceplus.com.
About Westell Technologies, Inc.
Westell Technologies, Inc., headquartered in Aurora, Illinois, is a holding company for Westell, Inc. and Conference Plus, Inc. Westell, Inc. designs, distributes, markets and services a broad range of broadband networking equipment, digital transmission products, remote monitoring tools, power distribution equipment, industrial-grade edge switches and demarcation products used by telecommunications service providers, utilities and other enterprises. Additional information can be obtained by visiting www.westell.com.
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