Premiere Global Services Buys Central Desktop

(RTTNews) - Premiere Global Services, Inc. (PGI) said Thursday that it has bought Central Desktop, Inc., a cloud-based team collaboration and project management platform for businesses.

Premiere Global funded the purchase through its recently increased credit facility and cash and equivalents on hand.

Central Desktop's platform connects people and information in the cloud, enabling teams to collaborate around files, combine knowledge, inspire ideas and manage projects—at any time, from anywhere in the world. Pasadena-based Central Desktop has a current projected annual revenue run rate of about $9 million.

Premiere Global expects the acquisition of Central Desktop to be neutral to adjusted earnings per share in 2014. The company plans to provide a revised financial outlook for 2014 when it releases its third quarter results.