Merger Creates World’s Dominant Virtual Communications and Events Provider
SAN FRANCISCO, Calif., and MADRID, Spain – June 5, 2012 – ON24, Inc., the global leader in webcasting and virtual event solutions, today announced the acquisition of Madrid-based IMASTE, the leading provider of virtual events in Europe. With its first acquisition, ON24 will increase its growth and presence in Europe and Latin America, further enhancing the company’s position as the worldwide virtual events market leader.
Led by an accomplished management team, IMASTE delivers virtual events products and services to a variety of leading global companies, including Deloitte, Accenture, The Economist, British Council, Top Language Jobs, Renault and Monster.com. “We have the utmost respect for IMASTE’s leadership and organization,” said ON24 CEO Sharat Sharan. “IMASTE’s market expertise and strong European presence complement ON24’s current London operations perfectly.”
Sharan continued, “Our Fortune 1000 clients will benefit from the stronger local support made possible by our acquisition of an EMEA powerhouse. In addition, this merger further consolidates ON24’s lead in the global marketplace and provides IMASTE customers with access to ON24’s world-class virtual communications solutions.” He added that IMASTE will lead ON24’s expansion into Latin America.
“With its industry-leading virtual communications technology and brand reputation, we are thrilled to be merging with ON24,” said Miguel Arias, IMASTE co-founder and CTO. “This merger of two leaders in the virtual events space will result in a single, dominant global virtual events and webcasting company that will serve customers more effectively and efficiently.”
With the acquisition, ON24 now has seven primary hubs—in North America (San Francisco, Charlotte and New York City), Asia Pacific (Sydney and Singapore) and Europe (London and Madrid).
Founded in 2003 and headquartered in Madrid, Spain, IMASTE is a worldwide provider of cloud- based virtual events and delivers a family of products used to easily set up and organize digital events, virtual career fairs and online trade shows – including 3D virtual environments. More than 200 customers in 25 countries rely on IMASTE’s virtual event services to build and operate exceptional media experiences across computers, smartphones and tablets. More information can be found at http://www.imaste-ips.com.
About ON24, Inc.
ON24, the virtual communications platform for the global enterprise, provides interactive, impactful cloud-based solutions that drive outstanding results. ON24 offers a broad and innovative product portfolio, including webcasting, virtual events and virtual environments, accessible from any device and supported by robust reporting and analytics. Applications for the ON24 communication platform include demand generation, partner enablement, training, product launches, company town hall meetings and user conferences. More than 700 organizations, including IBM, CA Technologies, Merck, Unilever, JPMorgan Chase, Deloitte, Credit Suisse, Ernst & Young, Amazon and New York Life, rely on ON24. The company is headquartered in San Francisco, with offices throughout the world. For more information, visit http://www.ON24.com.