BT buys video conferencing company

BT is to acquire Wire One Holdings, a US provider of videoconferencing solutions, from The Gores Group for an undisclosed sum.


BT is to acquire Wire One Holdings, a US provider of videoconferencing solutions.



The acquisition of Wire One will allow BT Conferencing to enhance its existing videoconferencing capabilities and services offering to its customers.



Based in Denver, Colorado, Wire One employs over 350 people across the US and Europe and provides products and services to over 8,000 customers, including 55 per cent of the US Fortune 100



For the year ended 31 December 2007, the business generated revenues of $140m (£70m).



BT is acquiring Wire One from The Gores Group and the proposed acquisition is contingent upon obtaining the necessary regulatory clearances.



The audited gross assets of Wire One as at 31 December 2007 were $90.5m (£45.25m).