Genesys Conferencing to Acquire Vialog for $241 Million
France-based teleconferencing company Genesys S.A (http://www.genesys.com) said it was acquiring Vialog (
http://www.vialog.com) for $241 million ( $90 million in Vialog debt plus $13.26 per Vialog share, based on Genesys Conferencing's recent closing prices).
The combined company will serve over 16,000 customers who will have access to reservation-less conferencing.
Vialog, a provider of web conferencing services, will see immediate synergies with Genesys' conferencing products. In trading today, Vialog's stock rose 16% closing at 1 7/16.
Kim Mayyasi, president and chief executive officer of Vialog, said, "We're extremely excited about the strategic benefits of the proposed acquisition. Joining forces with Genesys Conferencing provides a global solution for Vialog's more than 6,000 existing customers and gives us a competitive advantage to attract new ones." Mayyasi will become CEO of Genesys Conferencing's U.S. operations
Genesys Conferencing will apply for listing on the Nasdaq stock market of American Depository Shares (ADSs) representing its underlying ordinary shares.