AmericanVirtual Cloud Technologies Inc. (AVCT) recently came to a definitive agreement with and Ribbon Communications Inc. (RBBN) for acquiring its cloud communications platform Kandy Communications. Through all-stock transaction, AVCtechnologies will get an access to Kandy Communications’ leading proprietary, multi-tenant and highly scalable technology.
AVCtechnologies is in the industry for more than 30 years delivering exceptional high quality service to enterprise customers through a range of managed IT solutions. On the other end Kandy Communications is an innovation company that leads the industry in providing proprietary CPaaS, CCaaS and UCaaS platform. AVCtechnologies will be able to combine the both to deliver high class end-to-end communication solution for its channel partners and their customers as well as end users.
The acquisition of Kandy will drive our growth strategy fast. It will help us in achieving goal of becoming a leading provider cloud communication industry which is a large and fast growing segment. It will also increase AVCtechnologies’ chance of grabbing medium and large sized enterprise customers from all over the world, said Graham McGonigal, AVCtechnologies Chief Operating Officer.
Kandy was founded in 2014 and since its inception it has been providing complex deployments of CPaaS, CCaaS and UCaaS to mid-market as well as large enterprises through its powerful, proprietary multi-tenant and highly scalable platform. Kandy’s platform is comprised of Kandy Wrappers which is WebRTS technology-based pre-built customer engagement tool. Kandy provides high-quality services to a range of clients which also includes system integration and communications service providers.
Currently there have been several global customers listed on Kandy’s comprehensive roster. Those includes City of Los Angeles, IBM, AT&T and UAE’s telecom giant Etisalat.
Senior management as well as other leading technology and business professional from Kandy are likely to join AVCtechnologies upon closing of the transaction.
AVCtechnologies as part of the agreement will issue 13 million shares of its common stock to Ribbon Communications. The companies are likely to be closing the deal before end of this year subject to regulatory and stakeholder approval requirements.