Pivotal Group, a Phoenix-based multi-strategy investor and leader in technology, real estate and other business investments, just announced a major asset acquisition of the country’s premier interactive webcast company, which will launch under the name GlobalMeet. The assets were previously a part of PGi, which was located in Atlanta.
The assets were purchased for an undisclosed 8-figure sum last week.
Founded by Francis Najafi, who is part-owner of the Phoenix Suns, Pivotal Group has been an active investor in technology companies including: SnapNurse, Network Solutions, NX Systems, Global Capacity and Megapath. In addition to its technology investments, Pivotal Group envisioned, owns, and operates the internationally acclaimed Promontory, a luxury lifestyle mountain community located in Park City, Utah offering its residents and members unparalleled access to exceptional and award-winning amenities for every season.
With expertise to assess complex investments, Pivotal Group focuses on opportunities and companies that lead in their market segments, show growth potential, and exhibit attractive margins. Pivotal funds its investments with internally generated capital, allowing speed, flexibility, and patience to deliver today’s most innovative products and services to the market.
“We look for highly differentiated and unique platforms to invest in and partner with management. That’s why we are thrilled to have acquired the assets that are now used to operate the GlobalMeet business,” said Francis Najafi, Founder and CEO of Pivotal Group. “The global presence of GlobalMeet in the marketplace and its expected growth over the next decade is significant. We are elated to elevate the GlobalMeet business by expanding its offerings and footprint as a global leader in the webcast industry.”
Michele Dobnikar, President of GlobalMeet, commented, “The asset acquisition and deployment by Pivotal Group is a testament to GlobalMeet being the most scalable and secure interactive webcasting platform for any global company. We are excited by this new endeavor, enabling us to bring even greater levels of services to the world’s largest companies as their go-to virtual event platform.”
As the premium webcasting solution for large audiences or high-touch events, GlobalMeet is poised to accomplish the straight-forward goal of empowering people and businesses to communicate confidently. The company will strive to meet the ever-changing communications landscape with versatile technology and real-world expertise, focusing on executing polished, versatile communications at scale.
Under Pivotal Group, GlobalMeet looks to grow its footprint. Its services allow for live and on-demand / pre-recorded video and audio webcasts for up to 100,000+ attendees via a proprietary, scalable cloud platform. Five of the USA’s largest US banks will use GlobalMeet as their webcast company of choice. Similarly, 23% of the world’s top 40 banks will use the GlobalMeet Webcast platform. It will also be used by numerous other businesses around the world.