AVCT Announces Closing of Divestiture of Computex Technology Solutions to Calian Group Ltd.

The sale will complete AVCT’s transition to a pure-play cloud communications and collaboration company, centered on its premium Kandy platform and further strengthen its financial position

ATLANTA, March 16, 2022 (GLOBE NEWSWIRE) -- American Virtual Cloud Technologies, Inc. (the “Company”) (Nasdaq:AVCT), a trusted partner providing best-in-class cloud-based solutions to global enterprise customers, today announced it has successfully closed the sale of its Computex Technology Group (Computex) business to Calian Group Ltd. (Calian) (TSX: CGY), completing AVCT’s transition to a pure-play cloud communications and collaboration company, centered on its premium Kandy platform. The proceeds from the sale leave AVCtechnologies debt-free.

AVCT’s Kandy platform, which it acquired in December 2020, is one of the largest pure-play providers of cloud communications services (e.g., UCaaS) for enterprise customers and has consistently generated above-market revenue growth rates. Darrell J. Mays, CEO of AVCT, said “Our white-label relationships with key telecommunication companies and technology vendors, global carrier-grade connectivity, and proven SD-WAN integration position AVCT as a premier cloud communications provider poised to gain market share.”

AVCT acquired Computex, an award-winning IT solutions provider specializing in data centers, enterprise networking, cloud, cybersecurity, and managed services, in April 2020.

“We are pleased to have found an excellent home for Computex and are confident that it will thrive under Calian’s ownership,” said Mays.

Truist Securities, Inc. served as sole financial advisor and Greenberg Traurig LLP served as legal counsel to AVCT in connection with the transaction.

About American Virtual Cloud Technologies, Inc.
American Virtual Cloud Technologies, Inc. is a premier global cloud communications offering proprietary UCaaS, CPaaS, and CCaaS capabilities. Our mission is to provide global technology solutions with a superior customer experience. For more information, visit https://www.avctechnologies.com.

About Kandy
Kandy, an AVCtechnologies company, is a cloud-based, real-time communications platform offering proprietary UCaaS, CPaaS, CCaaS, Microsoft Teams Direct Routing as a Service, and SIP Trunking as a Service capabilities. Kandy enables service providers, enterprises, software vendors, systems integrators, partners, and developers to enrich their applications and services with real-time contextual communications, providing a more engaging user experience. With Kandy, companies of all sizes and types can quickly embed real-time communications capabilities into their existing applications and business processes. For more information visit kandy.io