Glowpoint Completes Acquisition of Affinity VideoNet

Glowpoint

, a leading global provider of cloud and managed video communication services, today announced the completion of its acquisition of privately held Affinity VideoNet ("Affinity"), a leading provider of public videoconferencing rooms and managed videoconferencing services to professional service organizations globally. "Glowpoint welcomes Affinity's employees and customers, which include many of the world's largest global executive search firms and law firms. The merger further solidifies Glowpoint's dominant position in the cloud based managed video communication services market, delivered through our OpenVideo® platform and our 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 our customers," said Joe Laezza, Glowpoint President and CEO. 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. The Company reiterates its previous guidance expecting 2013 revenue of $40 million and 20% non-GAAP adjusted EBITDA margins.