Altigen Acquires Blue Panda's CoreInteract Platform
Altigen Communications (OTCQB:ATGN) has announced the acquisition of Blue Panda Communications' CoreInteract platform, enhancing its Microsoft Teams solution offerings. This cloud-based customer engagement tool automates inbound customer interactions through various communication channels. The strategic move is expected to improve customer service and employee productivity while maximizing investment in Microsoft Teams. Altigen will make annual royalty payments to Blue Panda based on revenue generated by CoreInteract. The platform is projected to be available in Q4 2020.
- Acquisition enhances Altigen's Microsoft Teams portfolio, providing a competitive edge.
- CoreInteract improves customer service and employee productivity.
- Expected to maximize investment in Microsoft Teams for organizations.
- Integration of advanced analytics via Microsoft Cognitive Services.
- Financial obligations to Blue Panda in the form of annual royalty payments may impact cash flow.
- Transitioning Blue Panda's personnel may pose integration challenges.
Adds Microsoft Teams Digital Customer Engagement Applications to Altigen's Cloud Solutions Portfolio
MILPITAS, CA / ACCESSWIRE / September 3, 2020 / Altigen Communications, Inc. (OTCQB:ATGN), a Silicon Valley-based Microsoft ISV and Cloud Solutions provider, today announced that it has acquired certain assets of Blue Panda Communications, LP, including their CoreInteract platform, a cloud-based digital customer engagement solution for Microsoft Teams. This strategic acquisition is an integral component of Altigen's strategy to deliver the industry's most complete suite of integrated solutions and services for Microsoft Teams.
Blue Panda, headquartered in the greater Salt Lake City area, has developed a next generation digital customer engagement solution built on Microsoft's Bot Framework, deployed in Azure, and utilizing Microsoft Cognitive Services. CoreInteract was developed from the ground up as a scalable, multi-tenant cloud solution, natively integrated with Microsoft Teams to automate the routing and queuing of inbound customer requests using the customer's preferred communications channels, including voice, SMS, web chat, email, and social media. CoreInteract further employs Microsoft Cognitive Services to deliver advanced analytics, including keyword detection and sentiment analysis, enabling organizations to gain valuable insights into their customer interactions. Delivered as a managed cloud service, CoreInteract processes and delivers inbound customer requests directly to Teams users, with no additional desktop software required.
CoreInteract customers benefit from improved customer service, increased employee productivity, and simplified management - all serving to maximize an organization's investment in Microsoft Teams. The solution is expected to be generally available in calendar Q4 2020.
Under the acquisition agreement, Altigen has acquired the intellectual property for the CoreInteract platform in exchange for annual royalty payments, in the form of cash and Altigen stock, to be made to Blue Panda based on revenue generated by the CoreInteract platform over a three-year period. In addition, Blue Panda retains responsibility for its outstanding liabilities, and key Blue Panda management and engineering personnel will transition to Altigen.
According to Mark Allen, former CEO of Blue Panda and now Vice President of Technology and Alliances at Altigen, "I'm very excited to be joining forces with Altigen due to their reputation in the industry and ability to accelerate the business opportunity with the CoreInteract platform. Although we're still in the early stages of the product life cycle, having access to Altigen's sales and technical resources as well as their base Microsoft channel partners, are huge factors in driving the adoption of the CoreInteract platform."
"Our business objective is to become the leading provider of cloud communications solutions and services for Microsoft Teams", said Jerry Fleming, President and CEO of Altigen. "Mark Allen stands out as a true industry visionary. We're really pleased that Mark and his Blue Panda ownership group decided to join the Altigen team. The CoreInteract platform is spot on as the enterprise digital customer engagement platform for Microsoft Teams. Combined with our FrontStage Teams Contact Center solution Altigen will now uniquely be able to offer the most complete and progressive suite of advanced communications solutions for Teams - addressing the requirements of office personnel, work at home employees and corporate contact center agents."
About Altigen Communications
Altigen Communications Inc. (OTCQB: ATGN), based in Silicon Valley, is a leading Microsoft Cloud Solutions provider, delivering fully managed Cloud-based Unified Communications services based on the Microsoft platform. Our SIP trunk services, enterprise customer engagement and innovative cloud contact center solutions seamlessly integrate with Microsoft Teams to enhance and extend the business communications capabilities for our customers. Altigen's solutions are designed for high reliability, ease of use, seamless integration into Microsoft technologies, all delivered as fully managed cloud services. Our solutions are available through our global network of certified resellers. For more information, call 1-888-ALTIGEN or visit our website at www.altigen.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information, including all statements that are not statements of historical fact regarding the intent, belief, assumptions or current and future expectations of Altigen, its directors or its officers with respect to the contents of this press release. Such statements are subject to a number of risks and uncertainties, including but not limited to, statements regarding our ability to integrate newly acquired technologies and products into our operations, including the technology and assets described in this release, our ability to accelerate business opportunities and drive the adoption of the CoreInteract platform for Microsoft Teams, our ability to achieve increased market acceptance for our service offerings and penetrate new markets, and the possibility that the company may be adversely affected by other economic, business and/or competitive factors, including rapidly changing customer preferences and trends.
These statements are based on our current expectations about future events or future financial performance. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," "outlook," "plan," "goal," "objectives" and similar expressions and variations thereof are intended to identify forward-looking statements. These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from those anticipated or implied. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. The Company undertakes no duty to update such information except as required under applicable law.
Company Contact:
Carolyn David
Vice President, Finance
Altigen Communications, Inc.
Phone: 408-597-9000 x103
SOURCE: Altigen Communications, Inc.
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FAQ
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