MURRAY HILL, N.J., Oct. 1, 2012 /PRNewswire/ -- Glowpoint,
Inc., (NYSE MKT: GLOW), a leading global provider of cloud and
managed video communication services, today announced the
completion of its acquisition of privately held Affinity VideoNet
("Affinity"), a leading provider of public videoconferencing rooms
and managed videoconferencing services to professional service
organizations globally.
"Glowpoint welcomes Affinity's employees and customers, which
include many of the world's largest global executive search firms
and law firms. The merger further solidifies Glowpoint's dominant
position in the cloud based managed video communication services
market, delivered through our OpenVideo® platform and our
newly acquired installed base of public videoconferencing rooms.
The new company is uniquely positioned to deliver superior
services, which include an unmatched suite of cloud based services
and videoconferencing solutions demanded by our customers," said
Joe Laezza, Glowpoint President and
CEO.
The integration process will begin immediately and be led by
Peter Holst, previously Affinity's
President and CEO and now Glowpoint's Senior Vice President of
Business Development. The Company reiterates its previous guidance
expecting 2013 revenue of $40 million
and 20% non-GAAP adjusted EBITDA margins.
"As part of Glowpoint, we now have a much greater opportunity to
deliver upon our commitment of unmatched service experiences for
our customers along with a full suite of cloud based services that
are increasingly in demand," said Peter
Holst. "I am excited to be part of the ongoing business and
look forward to joining the management team."
Supporting Resources:
- Glowpoint Investor Information
- Affinity VideoNet
About Glowpoint
Glowpoint, Inc. (NYSE MKT: GLOW) provides Cloud and Managed
Video Services that make video meetings simple, reliable, and the
standard for bringing people together for business meetings.
Through our OpenVideo® cloud, we make video meetings the
replacement for in person and audio conferencing with our suite of
cloud and managed services that permit any device to connect across
any network, simply and reliably. Glowpoint supports hundreds of
clients located in 68 countries and is the trusted partner for
leading unified communications providers, telepresence
manufacturers, global carriers and A/V integration firms. To
learn more please visit www.glowpoint.com.
Forward looking and cautionary statements
The information in this release may contain statements that are
or may be deemed to be forward-looking statements and involve
factors, risks, and uncertainties that may cause actual results in
future periods to differ materially from such statements. These
factors, risks, and uncertainties include market acceptance and
availability of new video communications services; the
non-exclusive and terminable-at-will nature of sales agreements;
rapid technological change affecting demand for our services;
competition from other video communication service providers; and
the availability of sufficient financial resources to enable us to
expand our operations, as well as other risks detailed from time to
time in our filings with the Securities and Exchange Commission. We
make no representation or warranty that the information contained
herein is complete and accurate; we have no duty to correct or
update any information.
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MEDIA
CONTACT:
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INVESTOR CONTACT:
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Darren
Podrabsky
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Tolga
Sakman
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Glowpoint,
Inc.
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Glowpoint,
Inc.
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+1
973-855-3411
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+1
973-855-3411
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dpodrabsky@glowpoint.com
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tsakman@glowpoint.com
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SOURCE Glowpoint, Inc.