Owners hope sale of MeetingZone conference call group will raise £50m
Sunday 06 June 2010
The owners of MeetingZone, the Oxfordshire-based conference call group, have put the business up for sale and hope to raise £50m.
KPMG, the big four accountant, is running the sales process. MeetingZone is 33 per cent owned by buyout group Nova Capital and 40 per cent by founders Tim Duffy and Steve Gandy.
The firm provides web, audio and video conferencing for companies, and clients include the DVD rental business LoveFilm, FTSE-100 giant Tullow Oil and retailer Clinton Cards.
Founded just eight years ago, MeetingZone also has offices in the US, Germany and Canada.
In 2009 the company had sales of £8.2m, up from £2.7m three years earlier. MeetingZone claims to have benefited from the downturn, as people travel less frequently and need better communications software.
Nova first invested in the business in June 2006, aiming to help Duffy and Gandy crack the $3bn conferencing supply market.
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