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Atento S.A. (NYSE: ATTO) is a global industry leader in customer relationship management (CRM) and business process outsourcing (BPO), with a significant presence in Latin America and strong operations in the United States. Founded in 1999, Atento has expanded its business model across 17 countries, employing approximately 120,000 people. The company's stock trades on the New York Stock Exchange under the symbol ATTO.
Atento provides a wide range of CRM/BPO services to over 400 clients, including leading multinational corporations in telecommunications, banking, financial services, healthcare, retail, and public administration. With a focus on innovation and advanced technologies, Atento ensures excellent customer experiences by combining technology with human expertise.
Recent achievements highlight Atento's commitment to growth and transformation. The company successfully completed a major financial restructuring in November 2023, converting a significant portion of its debt into equity and securing additional commitments amounting to $113 million. This financial boost positions Atento for future growth and competitive strength.
Atento's new business strategy centers on three pillars: revenue diversification, operational excellence, and technological transformation. The company aims to expand in the US market, invest in EMEA's multilingual offerings, and establish the Philippines as a new offshore location. Emphasizing operational excellence, Atento is dedicated to continuous improvements in employee experience and customer satisfaction. The company also focuses on using AI, analytics, and automation to optimize operations.
Despite challenges, Atento remains resilient and forward-looking. Its strong market position is reinforced by accolades, including being named a 'star performer' by Everest in 2021, a leader by Gartner in Customer Service BPO Magic Quadrant since 2021, a leader in CX Outsourcing in Latin America by Frost & Sullivan in 2022, and one of the top 100 best companies to work for by Forbes Spain in 2023.
Atento is committed to leading the next generation of customer experience (CX) with a strong emphasis on intelligent, agile, and humanized services. The company's strategic partnerships, such as with Microsoft for Generative AI solutions, underscore its role as a key player in the digital transformation landscape.
Atento S.A. (NYSE: ATTO) announced the appointment of Bill Payne as an independent director, succeeding Oliver Feix. Payne brings over 30 years of experience in customer experience and technology sectors, enhancing the board's expertise. CEO Carlos López-Abadía emphasized Payne's potential to add significant value and aid in advancing Atento's transformation strategies. Atento operates in 13 countries with a workforce of 150,000, serving over 400 clients in various sectors, including technology and finance. The company is recognized as a leading CRM/BPO provider in Latin America and has a solid market presence in the US.
Atento S.A. (NYSE: ATTO) announced the postponement of its proposed private offering of new senior secured notes due to unfavorable market conditions. Concurrently, the company is terminating its cash tender offer to refinance existing 6.125% Senior Secured Notes due 2022, which was intended to utilize proceeds from the new offering. Atento is committed to reviewing its options once market conditions improve, while continuing to focus on its Three Horizon Plan.
Atento S.A. (NYSE: ATTO) announced the termination of its tender offer for the outstanding 6.125% Senior Secured Notes due 2022. This decision stems from unmet financing conditions and adverse market conditions, leading to the postponement of a previously planned new secured notes offering. Consequently, no tendered Notes will be purchased, and all submitted instructions will be automatically revoked. Atento expressed gratitude to Note Holders for their engagement and indicated a future review of options once market conditions stabilize.
Atento S.A. (NYSE: ATTO) announced a cash tender offer to refinance its outstanding 6.125% Senior Secured Notes due 2022. The offer is part of a strategy to improve financial flexibility and is being funded through a proposed issuance of new secured notes and cash on hand. The total consideration for the notes is set at U.S.$1,000.00, with an early tender payment of U.S.$30.00 for those participating by October 1, 2020. The offer will expire on October 16, 2020. Holders are advised to review the Offer to Purchase for complete terms.
Atento S.A. (NYSE: ATTO) announced a proposed private offering of senior secured notes by its subsidiary, Atento Luxco 1, aimed at refinancing existing senior secured notes due 2022. The cash proceeds will be used for this refinancing. The Notes will be guaranteed by certain wholly-owned subsidiaries and secured by a first-priority lien on the capital stock of both the Issuer and the guarantors. This offering is limited to qualified institutional buyers and is not registered under the U.S. Securities Act.
On Sept. 14, 2020, Atento S.A. (NYSE: ATTO) announced its plan to migrate its ERP system from SAP ECC to SAP S/4HANA across 13 countries. The migration, set to start in Brazil, will take two years and is supported by a partnership between SAP and Microsoft. Chief Financial Officer José Azevedo emphasized this transition as part of Atento's digital transformation to enhance operational efficiency and capitalize on growth opportunities in the CRM/BPO market. The new cloud-based system will improve decision-making and internal operations through advanced data analytics.
Atento S.A. (NYSE: ATTO) reported Q2 2020 results, revealing a 12.1% revenue decline to $314.5 million due to Covid-19 impacts. Despite this, run-rate EBITDA surged 31.9% year-over-year, with a margin of 14.3%. The company maintains financial liquidity with cash reserves of $207.2 million and Free Cash Flow of $44.1 million. A new cost-saving program targets $80 million in annual savings. However, Net Income fell to -$18.3 million from -$6.8 million, reflecting ongoing challenges. The reverse share split was executed to comply with NYSE rules.
Atento S.A. (NYSE: ATTO) announced that its shareholders approved a reverse share split, converting 75,406,357 ordinary shares into 15,000,000 shares at a ratio of 5.0271. This action aims to meet NYSE listing requirements due to shares trading below the $1.00 threshold for 30 consecutive days. The reverse split will take effect after trading hours on July 29, 2020, with trading on a split-adjusted basis commencing on July 30, 2020. No fractional shares will be issued, and the trading symbol will remain "ATTO".
Atento S.A. (NYSE: ATTO) announced it will release its fiscal Second Quarter 2020 financial results on August 5, 2020, after the market closes. A conference call to discuss these results will take place on August 6, 2020, at 11:00 a.m. Eastern Time. As the largest CRM/BPO provider in Latin America and among the top five globally, Atento serves over 400 clients across diverse sectors, employing 150,000 people in 13 countries. The company continues its commitment to delivering high-quality service to leading multinational corporations.
Atento S.A. (NYSE: ATTO) has announced new board appointments following a recent acquisition by institutional investors HPS, GIC, and Farallon, who now hold significant share percentages. Effective June 24, 2020, the new directors, including executives from these firms, replace previous Bain Capital representatives. CEO Carlos López-Abadía emphasized that these appointments will support Atento's transformation plan and market leadership. The company remains a major player in CRM/BPO services in Latin America and is known for its innovative customer experience solutions.
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