MeetingZone, a Thame, Oxford, UK-based independent conferencing and collaboration service provider, has been acquired by GMT Communications Partners and the company’s management team for a total consideration of £38.5m.
The business was acquired from the two founders, Tim Duffy and Steve Gandy, Nova Capital Management, a manager of direct secondary private equity portfolios, as well as other shareholders. Following the investment Gandy, who will continue to serve as CEO, and Duffy, who will become non-executive Chairman, will remain significant shareholders.
The investment aims to help MeetingZone expand in existing markets and new markets in Europe and Asia-Pacific, as well as extend its service offering.
Established in 2002, the company delivers integrated audio and web conferencing services to global organisations of all sizes, across all business sectors.
It has operations in the UK, North America and Germany.
In conjunction with the deal, Stefan Franssen, Partner at GMT, will join MeetingZone’s board.