SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
10 April, 2008
BT Group plc
(Translation of registrant's name into English)
BT Centre
81 Newgate Street
London
EC1A 7AJ
England
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F..X... Form 40-F.....
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes ..... No ..X..
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- ________
Enclosures: 1. Acquisition announcement made on 10 April, 2008
DC08-128 April 10, 2008
BT CONFERENCING TO ACQUIRE WIRE ONE HOLDINGS INC
BT (LSE: BT.A; NYSE: BT) today announced that it has agreed to acquire Wire One
Holdings Inc. ("Wire One"), one of the leading providers of videoconferencing
solutions in the United States. It is intended that Wire One will form the core
of BT Conferencing's video services unit.
Based in Denver, Colorado, Wire One employs over 350 professionals across the US
and Europe and provides products and services to over 8,000 customers, including
55% of the US Fortune 100. With over 20 years of videoconferencing support
expertise, Wire One is one of the leading providers in the US of easy to use,
reliable, and cost-effective video communication solutions. The
videoconferencing market is forecast to be worth $2.6bn by 2010*. For the year
ended 31 December 2007, the business generated revenues of $140 million (GBP70
million).
BT Conferencing is one of the leading players in the UK and European
conferencing market and has a strong presence in the United States and Asia
Pacific. The acquisition of Wire One will allow BT Conferencing to enhance
significantly its existing videoconferencing capabilities and services offering
to its customers.
Aaron McCormack, Chief Executive Officer of BT Conferencing said: "The
acquisition of Wire One is a tremendous addition to BT's global managed video
capabilities, the fastest growing sector in the Teleconferencing industry. We
are excited about the business, its employees and the customer base that Wire
One has built. We look forward to using these capabilities to create a new suite
of managed video services on our global IP network and providing an enhanced
offering to both BT Conferencing and Wire One's existing and future customers."
Dan Connors, CEO of Wire One, said, "I am very proud of the accomplishments of
our team and am excited about the next step of our evolution as part of BT
Conferencing. The combination will enable us to complement our strong video
solutions with industry-leading audio and web offerings. Wire One customers will
see significant benefits from BT's extensive global presence and a compelling
managed services offering."
BT is acquiring Wire One from The Gores Group LLC and the proposed acquisition
is contingent upon obtaining the necessary regulatory clearances. The audited
gross assets of Wire One as at 31 December 2007 were $90.5 million (GBP45.25
million).
*source: Wainhouse.
Ends
Notes to Editors
About BT
BT is one of the world's leading providers of communications solutions and
services operating in 170 countries. Its principal activities include the
provision of local, national and international telecommunications services to
our customers for use at home, at work and on the move; higher-value broadband
and internet products and services and converged fixed/mobile products and
services. BT consists principally of four lines of business: BT Global Services,
Openreach, BT Retail and BT Wholesale.
In the year ended 31 March 2007, BT Group plc's revenue was GBP20,223 million
with profit before taxation of GBP2,484 million.
British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and
encompasses virtually all businesses and assets of the BT Group. BT Group plc is
listed on stock exchanges in London and New York. For more information, visit
www.bt.com/aboutbt
About BT Conferencing
BT Conferencing was established more than 20 years ago and is now one of the
leading global provider of audio, video and web collaboration services. Year on
year growth has seen the company out-perform the conferencing industry
expectation and with its extensive global portfolio, is now one of the largest
conferencing providers in the UK and Europe with current reach in more than 70
countries. BT Conferencing is based in the USA, EMEA and Asia Pacific and
specialises in the delivery of reliable, robust and innovative conferencing
solutions and product hardware to some of the largest companies in the world.
The company offers tailor-made solutions to customers, whether they are small
SMEs or major global businesses. With businesses now juggling to increase
productivity, being more environmentally aware and at the same time looking to
improve the work-life balance of its employees, conferencing and collaboration
services provide a cost effective and time saving solution. For more information
visit www.bt.com/conferencing
About Wire One Communications, Inc.
Wire One Communications, with over 20 years of conferencing support expertise,
is one of the recognized leader in providing easy to use, reliable, and cost
effective video communication solutions to customers. The company services over
8,000 customers globally and manages over 40,000 conferences a year. Whether the
need is for video, audio or web conferencing, streaming or a strategic mix of
all media, Wire One is defining the new face of communication, and allowing
customers to connect, collaborate, and innovate.
About The Gores Group, LLC
Founded in 1987 by Alec E. Gores, The Gores Group, LLC is a private equity firm
focused on acquiring controlling interests in mature and growing businesses
which can benefit from the firm's operating experience and flexible capital
base. The firm combines the operational expertise and detailed due diligence
capabilities of a strategic buyer with the seasoned M&A team of a traditional
financial buyer. The Gores Group, LLC has become a leading investor having
demonstrated over time a reliable track record of creating substantial value in
its portfolio companies alongside management. The firm's private equity funds
have committed equity capital of $1.7 billion. Headquartered in Los Angeles,
California, The Gores Group, LLC maintains offices in Boulder, Colorado and
London. For more information, please visit www.gores.com
For further information:
BT:
Enquiries about this news release can be made to the BT Group Newsroom on its
24-hour number: 020 7356 5369. From outside the UK dial + 44 20 7356 5369. All
news releases can be accessed at our web site: http://www.bt.com/newscentre
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
BT Group PLC
(Registrant)
By: /s/ Patricia Day
--------------------
Patricia Day, Assistant Secretary.
Date 10 April, 2008