CAMARILLO, CA--Providea announced the acquisition of Boston-based Videré Conferencing, Inc. The acquisition nearly doubles the size and resources of the combined video conferencing company which will operate under the name of Providea Conferencing, LLC.
Providea, Inc. is a leading nationwide provider of comprehensive video conferencing solutions comprised of best-in-class hardware, managed services, network and multipoint conferencing. Videré Conferencing, Inc. offers a full suite of video conferencing, audiovisual and networking solutions with extensive experience in high-definition (HD) video conferencing environments and custom integration. The acquisition of Videré is highly complementary geographically, bringing the combined company to 13 locations across the U.S.
Providea Conferencing's CEO, Tom Bailey said, "Providea and Videré may have originated on opposite coasts, but we share a similar philosophy toward customer service and our outlook on the significant opportunities in this industry. The combination of our two companies strengthens our nationwide capabilities as well as reinforces our customer support. We look forward to leading the industry in this next phase of video conferencing."
"The two firms' capabilities complement each other perfectly, as does the blending of our talented personnel" added Todd Luttinger, President of Providea Conferencing. "Our new company features dozens of veterans in the industry who know how to ensure our customers realize the key benefits of video conferencing through effective HD and multipoint meetings, reduced travel expenses and significant time savings." Management of Videré will continue to retain a significant ownership stake in the company.
Providea recently announced that WestView Capital Partners had completed a recapitalization and growth equity investment in Providea. WestView's continued financial involvement will help Providea Conferencing expand its market position through organic initiatives and additional acquisitions.