American Virtual Cloud Technologies, Inc. (AVCT) experienced a decrease of 2.18% in aftermarket following the announcement of a partnership to accelerate the delivery of digital transformation as a service solution. However, the last trading session concluded at $2.29 with an incline of 21.81%.
Partnership to accelerate the delivery of digital transformation
AVCT announced on 10th December 2021 that it had an extended relationship that will enable upcoming user experiences for an 80,000-user telehealth app and a pet wellness app by a leading veterinary care chain in the United States that serves over 25,000 consumers. Moreover, Braidio WorkStreams connects information, expertise, individuals, customers, and business applications into a specific point of income capture and profitability, and produces more compelling, edge-driven customer interaction experiences for its clients in cooperation with Kandy.
Since its inception in 2019, Kandy and Braidio have been collaborating with AT&T on the evolution of the AT&T API Marketplace, which provides businesses with tools that make it easier, quicker, and more effective to engage with consumers in real-time. In addition, Braidio is positioned to accelerate global development with Kandy, AT&T, and Etisalat, after a recent $50 million investment commitment from Global Emerging Markets and an established technological stack that incorporates the recent purchase and integration of the AI-powered bespoke experience platform Leia.
For many years, Braidio has been an influence on the company. They have a lot of experience with industry-specific apps that use the Communication Platform as a Service. Moreover, enterprise firms are seeking to embrace customizable communications, including those offered by Kandy, to reinvent how they communicate with their customers and workers. It is an interesting opportunity for Kandy, Braidio, and the cloud communications sector in general, and these new customer victories add to the rapidly growing user base and brand recognition.
Significant Projected Revenue Growth – What is it?
On 8th December 2021, AVCT reported that sales for its Kandy Business Unit will increase from $14.3 million in 2020 to over $18.8 million in 2021. Not only this but subscriber increase of 505% year over year from January 2019 to the present is driving the huge, forecasted growth. Through its carrier-grade Kandy Business Solutions, AVCT provides a comprehensive suite of cloud-based Unified Communications as a Service (UCaaS) features to its cloud clients, including Cloud PBX, Smart Office UC Clients, Collaboration, Contact Center, and SIP Trunks. Last but not least, the Kandy Business Unit’s planned yearly growth is due to stronger engagement with existing service providers and enterprise clients such as IBM, AT&T, and Etisalat, as well as development into new customer partnerships.