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CounterPath Corporation has completed its merger with Alianza, marking its transition to a privately held company. Stockholders will receive US$3.49 per share, totaling approximately US$25.6 million. Trading of CounterPath's common stock on NASDAQ was suspended on February 26, 2021, with plans for delisting from the Toronto Stock Exchange. Post-merger, the company intends to deregister its shares and suspend reporting obligations under U.S. securities law. This acquisition positions Alianza for enhanced cloud communications capabilities.
CounterPath Corporation (NASDAQ:CPAH) announced that over 99% of shareholders voted in favor of its acquisition by Alianza, Inc. during a special meeting held on February 22, 2021. A total of 4,550,171 shares, representing 70.48% of outstanding shares, were present. The final vote showed 4,525,852 in favor, 23,724 against, and 595 abstentions. The results will be reported in detail on SEDAR and EDGAR. This merger aims to enhance CounterPath's Unified Communications solutions for various industries.
CounterPath Corporation has announced a definitive Merger Agreement with Alianza, Inc., where Alianza will acquire CounterPath for US$3.49 per share, totaling approximately US$25.7 million. This represents a premium of 26.3% over CounterPath's share price before the announcement. The transaction is expected to close in the first quarter of 2021, contingent on shareholder approval and regulatory clearance. The merger aims to enhance service offerings for their shared customer base in the cloud communications sector.
CounterPath Corporation (NASDAQ:CPAH) has partnered with Ubefone to create a customized Unified Communication (UC) solution for European markets. The Bria Enterprise platform enhances communication quality and reliability, featuring tiered service packages. Ubefone's transition from a previous vendor addresses significant quality issues, leading to customer acquisition. This collaboration signifies CounterPath’s commitment to delivering enterprise-grade applications, supporting businesses in a remote working environment.
CounterPath Corporation (NASDAQ: CPAH) has partnered with OMNIVIGIL, a telecom reseller in Quebec and Ontario, to enhance the deployment of Bria Enterprise solutions. This partnership aims to meet the rising demand for reliable mobile VoIP solutions amid increased remote work due to the COVID-19 pandemic. Bria Enterprise is now being utilized by various customers, including major contact centers and microbusinesses. CounterPath anticipates expanding its channel network to foster further growth and support in the region.
CounterPath Corporation (NASDAQ:CPAH) has amended its articles of incorporation to increase the number of authorized shares of its common stock from 10 million to 50 million. This change raises the total number of shares of all classes to 150 million, which includes 100 million shares of preferred stock. The amendment aims to enhance the company's flexibility in financing and capital opportunities.
CounterPath provides Unified Communications and Collaboration solutions, serving various industries globally.
CounterPath Corporation (NASDAQ:CPAH) announces collaboration with SpeechLogix to enhance call center operations in Saudi Arabia with the XLogix Platform. This platform, integrated with Bria for Call Center, offers intelligent routing for agents, allowing local calls to over 65 countries. The global contact center market is projected to reach USD 72.3 billion by 2027. The solution aims to boost agent performance and operational efficiency, catering to service providers with customizable features across more than 200 countries.
CounterPath Corporation (NASDAQ:CPAH) held its annual meeting on September 24, 2020, where all director nominees were elected. A significant turnout was noted with 77.19% of outstanding shares represented. Key voting results showed strong support for nominees Steven Bruk (97.08% for), Chris Cooper (90.88% for), and others, indicating investor confidence. The details of the meeting and other matters are available in the Report of Voting Results filed on SEDAR and the SEC's EDGAR system.
CounterPath Corporation (NASDAQ:CPAH) reported significant results for Q1 FY2021, with revenue of $3.4 million, a 33% increase from $2.6 million in Q1 FY2020. Recurring revenue saw a remarkable 46% growth, totaling $2.1 million. Gross margin rose to 84% from 80% year-over-year. The company achieved net income of $0.0 million or $0.00 per share, an improvement from a loss of $0.9 million or $0.16 per share in the prior year. Cash increased to $2.7 million from $2.4 million.
CounterPath Corporation (NASDAQ:CPAH) announced a partnership with Telico to enhance VoIP services via the Bria Enterprise Unified Communication solution. This collaboration allows Telico to attract new customers and resellers while adapting to remote working conditions prompted by the COVID-19 pandemic. Bria Enterprise offers essential features such as HD video conferencing, secure messaging, and file sharing, which aided Telico's clients like Elna Medical in transitioning to remote work. The partnership aims to meet the increased demand for flexible communication solutions in the evolving workplace.
