iotum announced it will be expanding its company with its latest acquisition of California-based Global Conference Partners, who provide telecommunication and conferencing services for its customers with products like FreeConference.com. iotum is currently the operator of the teleconferencing service Calliflower.com.
iotum was founded in 2003 and set out to re-invent business conversations and “share a world of relevant communications where devices, social networks, and Web services work seamlessly together to let people communicate with whom they want, when they want and on the device they want.”
iotum began creating products with a simple, intuitive environment to help small to mid-size businesses enrich their communications. This led to the development of Califlower.com, the company’s most popular platform allowing for multi-party meetings, MP3 archives, live chatting and more.
Building on its popularity, the company made a big move this week by closing out on an acquisition of Global Conference Partners, meaning iotum will have full control over all of Global’s products.
Jason Martin, president and CEO, said iotum will not only handle, develop and build on all of Global’s assets, but it will also acquire FreeConference.com, InstantConference.com, GlobalConference.com and more. "It's a natural fit," said Martin. "The Global Conference properties nicely complement Calliflower where we'll quickly realize economies of scale, even though all conferencing services will continue under separate brands."
In addition, Martin said this new deal does not mean the loss of jobs for Global’s current employees. According to Martin, Global will continue to offer its services in the same location, Glendale, Calif., and no employees will lose their jobs as a result of the merger.
Although Martin confirmed some details of the new acquisition, he did not release any from the financial side of the merger, such as how much it cost to acquire Global or how much more revenue the company expects with the new deal.
There was also no word on how soon customers of iotum can expect to begin using the new services.
Edited by Alisen Downey