Private Equity Siris To Buy Premiere Global For $1 Billion

By Claudia AssisMarketWatch Pulse

Private-equity company Siris Capital Group has agreed to buy Premiere Global Services Inc. , or PGi, for about $1 billion, PGi said Thursday. Under the terms of the agreement, Siris will acquire all outstanding shares of the software company for $14 a share, a premium of 23% over PGi's Thursday closing of $11.35. Shares of PGi soared 21% in after-hours trading after ending the regular session up 2.1%.

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