AVCtechnologies To Divest Computex Tech Business To Calian

American Virtual Cloud Technologies Inc AVCT agreed to sell its Computex Technology Group business to Calian Group Ltd. The financial terms of the transaction remain undisclosed.
The proceeds from the sale, along with cash on hand, will likely render AVCtechnologies debt-free and allow long-term value creation for its shareholders.
The move will help AVC Technologies transition to a pure-play cloud communications and collaboration company centered on its premium Kandy platform.
AVCtechnologies' Kandy platform is one of the largest pure-play providers of Unified Communications as a Service (UCaaS), Contact Center as a Service (CCaaS), Communications Platform as a Service (CPaaS), and Direct Routing as a Service (DRaaS) for enterprise customers.
Price Action: AVCT shares traded higher by 2.73% at $1.13 in the premarket session on the last check Friday.