In Collaboration solutions provider Arkadin has entered into a definitive agreement to acquire ConferencePlus, a subsidiary of Westell Technologies, Inc.
The acquisition is believed to help Arkadin significantly increase its market share and make it the third largest independent collaboration service provider in North America. It's already got the number two position in Europe and Asia.
The transaction is expected to close by the end of the year. Financial terms of the deal were not disclosed in a release issued by Arkadin.
For Arkadin, ConferencePlus brings to the table a complementary set of services and an expanded presence in North America and Europe.
The market for conferencing services is expected to increase significantly in the next few years and will reach 7 billion Euros in 2015.
"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. With the addition of ConferencePlus, Arkadin will have more than 26,000 clients globally.
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