Kandy.io assets transferred to affiliate of TelcoDR
March 24, 2023 – Austin, TX – Today Skyvera announced the successful transfer of assets from American Virtual Cloud Technologies, Inc. “AVCT” (Nasdaq: AVCTQ) (including, without limitation, Kandy Communications, LLC) and affiliates including global, carrier-grade, white-label cloud communications services, announced earlier this month. The technology portfolio includes Communications Platform as a Service (CPaaS), Unified Communications as a Service (UCaaS), Microsoft Teams Direct Routing as a Service, SIP Trunking as a Service (STaaS), as well as a portfolio of real-time communications APIs and supporting functions.
“Skyvera will restructure the business and bring it back to being a financially viable company. Last year this business suffered significant losses and we must work aggressively to reduce the expense required to manage the business as we work to strengthen our customer relationships and reinvest in the products,” said Skyvera CEO Jeff Moyer. “Fortunately, we are well positioned to take this great technology and modernize the portfolio for use with the public cloud. While challenging, the result will be a stronger business that is aligned with a cloud-native future to assist CSPs on their public cloud journey.”
The majority of the Kandy team will join Skyvera, while just under 50 Kandy employees will not transition as a part of the transaction. Kandy marks Skyvera’s 10th acquisition as a specialist and emerging global acquirer of telecommunication software businesses. Skyvera empowers customers by managing telco software companies and providing support, product innovation, and a path for leveraging the power of the public cloud. The UCaaS and CPaaS functionality strongly aligns with this public cloud strategy and will enable Skyvera to enhance network access and service monetization through open APIs, benefiting new and existing customers.
About Skyvera and TelcoDR
The telecom industry is on the precipice of a transformational shift – a monumental evolution driven by public cloud adoption – and TelcoDR is catalyzing this change, backed by our $1B Telco Transformation Fund. Founded and led by telecom’s leading public cloud evangelist, Danielle Royston, TelcoDR has raised significant capital to acquire telco software vendors and catapult them to the public cloud through the Skyvera operating unit, as well as through investing in startups like Totogi that are innovating and building truly public cloud-native technology. When TelcoDR’s vision for the telecom industry has been achieved, CSPs will realize massive cost savings, drive tremendous business growth, and dramatically improve customer engagement. Follow TelcoDR on LinkedIn and Twitter. To learn more, visit TelcoDR.com.
Skyvera PR Team