American Virtual Cloud Technologies, otherwise known as AVC Technologies, just announced a powerful new purchase. The company has agreed to buy Ribbon’s Kandy Communications business.
The two organisations recently announced that they’ve entered into a definitive agreement for the AVC Technologies brand for Kandy Communications, a business-leading multi-tenant, and scalable platform for cloud communications.
The proposed acquisition will combine AVC Technologies 3 decades of experience in providing exceptional customer service to enterprise customers with Kandy’s pure-play and proprietary UCaaS, CCaaS, and CPaaS platform. This will assist in providing an end-to-end and best-in-class communication experience.
An Exciting Step Forward for the Company
CEO of AVC Technologies, Darrell J. Mays, said that the company is thrilled to be announcing the acquisition of Kandy, which represents a powerful step forward in strengthening the brand’s ability to deliver a complete set of cloud solutions. Darrell went on to say that the company is extremely fortunate to be able to purchase Kandy, which built one of the most advanced and impressive platforms in the world.
According to Graham McGonigal, the COO of AVC Technologies, this purchase will massively increase the company’s growth strategy and vision to become a leading provider in the cloud communication landscape. Kandy’s global solution for CPaaS, CCaaS, and UCaaS is a proprietary and powerful multi-tenant platform.
The Kandy platform also features pre-built tools for customer engagement, built on WebRTC technology that’s scalable and easy to adapt. These “Kandy Wrappers” make it easy to deliver white-labelled services to a variety of consumers, including systems integrators, and communications service providers.
Helping the Enterprise Adopt the Cloud
The Kandy solution from Ribbon is a fantastic service for helping the enterprise environment adopt the potential of the cloud, embrace the idea of agile innovation and create programmable communications. This technology increases productivity, reduces costs, and leads to a massive increase in potential revenue.
With Kandy technology, communication experiences in the business become more contextual and immediate. The result is better business outcomes for everyone. Ribbon’s Kandy solution has built a significant roster of globally-recognised consumers, including IBM, the City of Los Angeles, AT&T and Etisalat.
The CEO of Ribbon, Bruce McClelland, said that the company is massively impressed with the incredible depth of talent and vison behind AVC Technologies. With the addition of the innovative and talented Kandy team, Ribbon believes that the company will continue to flourish and evolve.
The combination of these two amazing entities has the potential to deliver incredible value and growth for businesses of all sizes. Ribbon is excited to take their seat as a shareholder of the newly connected company.
Looking Forward to the Future
The Senior leadership team responsible for Kandy, as well as the personnel made up of technology and business professionals, will be joining AVC Technologies upon the closure of the deal. According to the new agreement, AVC Technologies will be issuing thirteen million shares of the common stack it has to offer to Ribbon Communications.
According to AVC Technologies, the transaction will be closing during the second half of 2020, and will be subject to the standard regulatory reviews issued by governing bodies to ensure competitive fairness. It’s also important to ensure that the stock and shareholders at AVC Technologies are comfortable and happy with the new deal.
The purchase will take place following the assurance of any customary closing conditions. For this deal, the Trust Securities Inc. will be acting as the sole financial advisor for AVC Technologies. At the same time, Q Advisors will be the financial advisor for Ribbon. Greenberg Traurig LLP is legal council for AVC Technologies, while Latham and Watkins LLP is legal counsel for Ribbon.
