Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Premier Global Services, (NYSE:PGI) jumped more than 11% Wednesday after the company announced an acquisition, and raised its 2014 earnings guidance.

So what: First, Premier Global announced it has acquired Europe-based fellow conferencing and collaboration provider Via-Box Limited for approximately $52.6 million, with the transaction funded through a combination of Premier Global's existing credit facility, and cash on hand. Trading under the name Powwownow, Via-Box serves approximately 240,000 active users in the U.K., and has a current projected annual revenue run rate of $22 million.

Better yet, PGi also estimates that next year's net revenue from continuing operations should be in the range of $560 million to $570 million, which should translate to non-GAAP diluted earnings per share from continuing operations of $0.85 to $0.88. By contrast, analysts were only expecting 2014 adjusted earnings of $0.81 on sales of $546.47 million.

Now what: What's more, the company also stated that sales of its SaaS-based products should increase more than 50% year-over-year in 2014, and will comprise more than 10% of its consolidated annual revenue run rate by the end of next year.

Even after today's pop, shares of PGI have only risen 6% so far in 2013, badly lagging the broader market. Even so, I think the stock looks cheap trading under 13 times next year's estimated earnings, so it could prove a bargain for patient long-term investors going forward.

Fool contributor Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.