Westell Technologies exits Conference Plus for $41 million

Arkadin, a global provider of digital collaboration solutions, has acquired conferencing services provider Conference Plus for $41 million.

Westell Technologies’, a communications equipment distributor, management expects a profit of $20 million from their original investment.

Rick Gilbert, Westell Technologies chairman says: ‘Conference Plus is a well-run operation that has contributed significantly to Westell over many years.

‘While we are proud of its accomplishments, we have concluded that it should be even more successful as a part of a larger conferencing business such as Arkadin.’

In September, Conference Plus announced revenues of $43 million and an operating income of $5.1 million.

Olivier de Puymorin, CEO of Arkadin says: ‘This is a strategic acquisition of a company that shares our vision asnd together with ConferencePlus, we will continue to execute on our strategy for global expansion and growth by delivering a complete suite of office collaboration services.’

With the addition of ConferencePlus, Arkadin will now have more than 26,000 clients globally and the company is excited about the acquisition.

Christophe Reyes, executive vice-president of Europe says: ‘ConferencePlus’s European footprint will bolster our leadership position and growth potential in the region.’

Todd Cardy

Todd Cardy

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

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