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Glowpoint announces completion of Affinity VideoNet acquisition
[October 02, 2012]

Glowpoint announces completion of Affinity VideoNet acquisition


Oct 02, 2012 (M2 EQUITYBITES via COMTEX) -- Glowpoint Inc (NYSE:GLOW), a provider of cloud and managed video communication services, announced on Monday the completion of its acquisition of Affinity VideoNet, a provider of public videoconferencing rooms and managed videoconferencing services.



Financial details of the acquisition were not available.

The acquisition reportedly further solidifies Glowpoint's dominant position in the cloud based managed video communication services market, delivered through its OpenVideo platform and its 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 its customers, the company said.


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.

Also, the company reiterated its previous guidance expecting 2013 revenues of USD40m and 20% non-GAAP adjusted EBITDA margins.

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