Artificial Intelligence
Borqs Technologies Reports Annual Revenues of $52.5 million, an Increase of 77.7%, and Adjusted EBITDA of $4.8 million
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- Revenues reached $52.5 million, 77.7% Year-Over-Year (YOY) growth.
- Gross margin was 21.2%, an improvement of 1,240 basis points.
- Adjusted EBITDA reached $4.8 million.
SANTA CLARA, Calif., May 15, 2023 (GLOBE NEWSWIRE) — Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced its financial results for the year ended December 31, 2022.
Key Financial Results (not including the results Holu Hou Energy, LLC (“HHE”) which is separately presented as Discontinued Operations)
- Revenues for the year ended December 31, 2022 increased 77.7% to $52.5 million compared to $29.6 million for the year ended December 31, 2021, mainly driven by increased IoT hardware sales globally and software service revenues from a global semiconductor vendor.
- Gross profit for the year ended December 31, 2022 increased 326.6% to $11.1 million compared to a gross profit of $2.6 million for the year ended December 31, 2021. Gross margin was 21.2% for the year ended December 31, 2022, compared to 8.8% for the year ended December 31, 2021, an improvement of 1,240 basis points.
- Adjusted EBITDA for the year ended December 31, 2022, as presented below, increased 138% to $4.8 million as compared to $2 million for the year ended December 31, 2021.
- U.S. headquartered customers contributed 29.4% of total revenues, India represented 25.8%, China represented 30.1% and the rest of the world represented 14.7%.
For a reconciliation of the non-GAAP financial measures of EBITDA and Adjusted EBITDA from the results of our continuing operations in the year 2022, please see presentation at the end of this press release.
As mandated by the Committee on Foreign Investment in the United States (“CFIUS”) on December 13, 2022, and as stipulated in the National Security Agreement signed between the Company and CFIUS on March 16, 2023, the Company must completely divest its ownership in Holu Hou Energy, LLC (“HHE”). The financial results of HHE for the year 2022 were presented under Discontinued Operations; and the company deconsolidated HHE’s financials as of December 31, 2022.
“I am very pleased with our operational performance of the past year ended with a significant growth in the revenue and increase in the gross margin. The entire Borqs team has successfully executed the expansion plans in terms of growing both IoT hardware sales and software service revenues while improving our gross margin in a challenging environment. The financial results for 2022 were in line with our expectations,” said Pat Chan, CEO of Borqs Technologies. “Also, we are very happy to have recently engaged Cantor Fitzgerald & Co., an internationally reputable investment bank, to head up the sales of our ownership in HHE.”
Mr. Chan concluded, “The divestment of the HHE, when completed, is expected to provide a large liquidity position to Borqs. Once the divestment is consummated in the coming months, we plan to evaluate acquisition opportunities. We are committed to bringing superior 5G wireless and IoT solutions to our customers worldwide. In the meantime, we will evaluate opportunities in combining our know-how and expertise in IoT with artificial intelligence (AI), robotic and cloud technologies to further strengthen our long-term competitive advantages in 2023 and beyond.”
Non-GAAP Financial Measures
EBITDA and Adjusted EBITDA are supplemental non-GAAP financial measures exclusive of certain items to facilitate management’s review of the comparability of our core operating results on a period to period basis because such items are not related to our ongoing core operating results as viewed by management. EBITDA and Adjusted EBITDA are not measures of net income or cash flows as determined by GAAP. We define EBITDA as net income plus income taxes, net interest expense, depreciation and amortization, and Adjusted EBITDA as EBITDA minus other non-operation expense.
We believe EBITDA and Adjusted EBITDA are useful because they allow us to more effectively evaluate our operating performance and compare the results of our operations from period to period without regard to our financing methods or capital structure. We exclude the items listed above in arriving at EBITDA and Adjusted EBITDA because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. EBITDA and Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP, or as an indicator of our operating performance or liquidity. Certain items excluded from EBITDA and Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of EBITDA and Adjusted EBITDA. In prior periods, the Company has excluded other items that it no longer excludes for purposes of its non-GAAP financial measures. Our computations of EBITDA and Adjusted EBITDA may not be comparable to other similarly titled measures of other companies.
About Borqs Technologies, Inc.
Borqs Technologies (Nasdaq: BRQS, “Borqs”, or the “Company”) is a global leader in software and products for the IoT, providing customizable, differentiated, and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio. Borqs’ unique strengths include its Android Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage, and system performance optimization, suitable for large and low volume customized products, and is also currently in development of 5G products for phones and hotspots.
Website: www.borqs.com.
Forward-Looking Statements and Additional Information
This press release includes “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as “forecasts”, “expects”, “believes”, “anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”, “might”, “plan”, “possible”, “should”, “estimates” and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect our management’s current beliefs. Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including the possibility that the positive financial results from the proposed divestment as described herein may not be realized, and the negative impact of the COVID-19 pandemic on the Company’s supply chain, revenues and overall results of operations, so the reader is advised to refer to the Risk Factors sections of the Company’s filings with the Securities and Exchange Commission for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact:
Sandra Dou
Vice President of Corporate Finance
Borqs Technologies, Inc.
[email protected]
www.borqs.com
| BORQS TECHNOLOGIES, INC. | ||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||
| (Amounts in thousands of US dollar (“$”), unless otherwise stated) | ||||||||
| As of December 31, | ||||||||
| 2021 | 2022 | |||||||
| $ | $ | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | 6,117 | 11,305 | ||||||
| Restricted cash | 211 | 32 | ||||||
| Time deposits | – | 1,436 | ||||||
| Accounts receivable, net (net of allowance of $13,049 and $12,881 as of December 31, 2021 and 2022, respectively) | 2,262 | 3,482 | ||||||
| Inventories, net | 6,760 | 4,235 | ||||||
| Prepaid expenses and other current assets, net (net of allowance of $11,327 and $11,383 as of December 31, 2021 and 2022, respectively) | 13,640 | 7,501 | ||||||
| Current assets held for sale | 2,220 | – | ||||||
| Total current assets | 31,210 | 27,991 | ||||||
| Non-current assets: | ||||||||
| Property and equipment, net | 724 | 1,024 | ||||||
| Construction in progress | 94 | – | ||||||
| Intangible assets, net | 978 | – | ||||||
| Right of use asset | 1,674 | 704 | ||||||
| Deferred tax assets | 471 | 424 | ||||||
| Non-current assets held for sale | 18,101 | – | ||||||
| Total non-current assets | 22,042 | 2,152 | ||||||
| Total assets | 53,252 | 30,143 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY(DEFICIT) | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | 9,449 | 7,071 | ||||||
| Accrued expenses and other payables | 27,648 | 23,938 | ||||||
| Contract liabilities – current | 7,308 | 3,951 | ||||||
| Lease liabilities – current | 1,032 | 536 | ||||||
| Amount due to related parties-current | 2,492 | 746 | ||||||
| Income tax payable | 399 | 7 | ||||||
| Short-term bank and other borrowings | 361 | – | ||||||
| Long-term bank borrowings – current portion | 1,250 | – | ||||||
| Contingent consideration-current | 1,392 | – | ||||||
| Convertible notes | 9,990 | 1,691 | ||||||
| Current liabilities held for sale | 3,070 | – | ||||||
| Total current liabilities | 64,391 | 37,940 | ||||||
| Non-current liabilities: | ||||||||
| Unrecognized tax benefits | 2,174 | 1,990 | ||||||
| Deferred tax liabilities | 1,011 | 909 | ||||||
| Lease liabilities – non-current | 754 | 39 | ||||||
| Other payable – non-current | – | 417 | ||||||
| Contingent consideration – non-current | 389 | – | ||||||
| Other non-current liabilities | 15 | – | ||||||
| Non-current liabilities held for sale | 1,804 | – | ||||||
| Total non-current liabilities | 6,147 | 3,355 | ||||||
| Total liabilities | 70,538 | 41,295 | ||||||
| Commitments and contingencies | ||||||||
| Shareholders’ deficit: | ||||||||
| Ordinary shares (no par value; unlimited shares authorized; 10,209,481 shares and 57,182,633 shares issued and outstanding as of December 31, 2021 and 2022, respectively *) | – | – | ||||||
| Additional paid-in capital | 262,271 | 310,267 | ||||||
| Subscriptions receivable | (15,287 | ) | (14,378 | ) | ||||
| Statutory reserve | 1,901 | 1,901 | ||||||
| Accumulated deficit | (271,040 | ) | (305,072 | ) | ||||
| Accumulated other comprehensive loss | (1,091 | ) | (3,512 | ) | ||||
| Total Borqs Technologies, Inc. shareholders’ deficit | (23,246 | ) | (10,794 | ) | ||||
| Non-controlling interest | 5,960 | (358 | ) | |||||
| Total shareholders’ deficit | (17,286 | ) | (11,152 | ) | ||||
| Total liabilities, noncontrolling interest and shareholders’ deficit | 53,252 | 30,143 | ||||||
*Giving retroactive effect to the reverse split on June 27, 2022
| BORQS TECHNOLOGIES, INC. | ||||||||
| CONSOLIDATED STATEMENT OF OPERATIONS | ||||||||
| (Amounts in thousands of US dollar (“$”), unless otherwise stated) | ||||||||
| For the years ended December 31 | ||||||||
| 2021 | 2022 | |||||||
| $ | $ | |||||||
| Net Revenues: | ||||||||
| Software | 10,732 | 13,080 | ||||||
| Hardware | 18,829 | 39,457 | ||||||
| Total net revenues | 29,561 | 52,537 | ||||||
| Software | (9,429 | ) | (6,149 | ) | ||||
| Hardware | (17,526 | ) | (35,272 | ) | ||||
| Total cost of revenues | (26,955 | ) | (41,421 | ) | ||||
| Total gross profit (loss) | 2,606 | 11,116 | ||||||
| Operating expenses: | ||||||||
| Sales and marketing expenses | (151 | ) | (341 | ) | ||||
| General and administrative expenses | (23,558 | ) | (7,186 | ) | ||||
| Research and development expenses | (5,294 | ) | (4,524 | ) | ||||
| Total operating expenses | (29,003 | ) | (12,051 | ) | ||||
| Other operating income | 247 | 148 | ||||||
| Operating income (loss) | (26,150 | ) | (787 | ) | ||||
| Interest income | 3 | 47 | ||||||
| Interest expense | (11,680 | ) | (11,732 | ) | ||||
| Other income | 2,376 | 240 | ||||||
| Other expense | (3,207 | ) | (2,123 | ) | ||||
| Gain (loss) on disposal of subsidiary | (303 | ) | – | |||||
| Contingency (loss) reversal | 3,277 | – | ||||||
| Gain (loss) on debt settlement | (17,199 | ) | 217 | |||||
| Loss related to equity financing | – | (3,669 | ) | |||||
| Change in fair value of contingent consideration for the acquisition of HHE | (111 | ) | – | |||||
| Loss on additional acquisition cost to HHE in shares | – | (5,950 | ) | |||||
| Loss on deconsolidation of a subsidiary | – | (3,610 | ) | |||||
| Foreign exchange gain (loss) | (2,661 | ) | (1,519 | ) | ||||
| Income (loss) from continuing operations, before income taxes | (55,655 | ) | (28,886 | ) | ||||
| Income tax (expense) benefit | 445 | (59 | ) | |||||
| Net income (loss) from continuing operations | (55,210 | ) | (28,945 | ) | ||||
| Discontinued operations | ||||||||
| Income (loss) from operations of discontinued entities | (1,392 | ) | (9,916 | ) | ||||
| Net income (loss) | (56,602 | ) | (38,861 | ) | ||||
| Net income (loss) attributable to non-controlling interest – continuing operations | (54 | ) | (190 | ) | ||||
| Net income (loss) attributable to non-controlling interest – discontinued operations | (683 | ) | (4,639 | ) | ||||
| Net income (loss) attributable to Borqs Technologies, Inc. | (55,865 | ) | (34,032 | ) | ||||
| Net income (loss) attributable to ordinary shareholders | (55,865 | ) | (34,032 | ) | ||||
| BORQS TECHNOLOGIES, INC. | ||||||||
| EBITDA & ADJUSTED EBITDA RECONCILIATION | ||||||||
| (Amounts in thousands of US dollar (“$”), unless otherwise stated) | ||||||||
| For the years ended December 31 | ||||||||
| 2021 |
2022 |
|||||||
| $ | $ | |||||||
| Net income (loss) | (56,602 | ) | (38,861 | ) | ||||
| Income (loss) on discontinued operations | (1,392 | ) | (9,916 | ) | ||||
| Net income (loss) from continuing operations | (55,210 | ) | (28,945 | ) | ||||
| Interest expense | (11,680 | ) | (11,732 | ) | ||||
| Income tax (expense) benefit | 445 | (59 | ) | |||||
| Depreciation and amortization | (2,233 | ) | (1,803 | ) | ||||
| Other expense(non-operational) | (3,207 | ) | (2,123 | ) | ||||
| Other income(non-operational) | 2,376 | 240 | ||||||
| Foreign exchange gain (loss) | (2,661 | ) | (1,519 | ) | ||||
| EBITDA | (38,250 | ) | (11,949 | ) | ||||
| – | – | |||||||
| Write-off of historical inventory (non-cash) | (1,268 | ) | (332 | ) | ||||
| write-off and provision of doubtful assets (non-cash) | (1,757 | ) | (20 | ) | ||||
| Stock-based compensation (non-cash) | (17,533 | ) | (3,386 | ) | ||||
| Defaulted debt settlement charges (non-cash) | (17,199 | ) | 217 | |||||
| One-off consulting expenses for financing activities | (2,100 | ) | – | |||||
| Contingency loss on disposal of subsidiary (non-cash) | (303 | ) | – | |||||
| Change in fair value for acquisition (non-cash) | (111 | ) | – | |||||
| Loss related to equity financing | – | (3,669 | ) | |||||
| Loss on deconsolidation of HHE | – | (3,610 | ) | |||||
| Loss on additional acquisition cost to HHE in shares | – | (5,950 | ) | |||||
| Adjusted EBITDA | 2,021 | 4,801 | ||||||
Artificial Intelligence
Solar EV Charging to Bypass the Grid: A US$2.5 Billion Market by 2034, Says IDTechEx
Unreliable and fossil fuel-intense electrical grids
BOSTON, May 6, 2024 /PRNewswire/ — Electrification of cars, buses, and trucks drastically reduces CO2 emissions at the point of use compared to a diesel or petrol alternative. The adoption of EVs across all sectors, with IDTechEx predicting over 180 million electric vehicles to be sold annually by 2044. This will contribute to a drastic reduction in tailpipe emissions. However, the overall emissions are usually highly dependent on the energy mix that goes into grid electricity production. In many economies, this contains significant amounts of fossil fuels such as coal and natural gas. Beyond CO2 emissions, some grids are already at capacity, and the increased load of an electric transport sector risks blackouts and power supply issues. South Africa is an EV market with both of these issues, and several innovations have been made using distributed power generation to tackle these challenges. IDTechEx’s research report, “Off-Grid Charging For Electric Vehicles 2024-2034: Technologies, Benchmarking, Players and Forecasts”, explores the challenges and solutions associated with charging EVs in the context of constrained electricity grids.
The South African utility grid is subject to frequent load-shedding, periods when demand exceeds supply, and utility operators are forced to impose rolling black or brownouts of up to 50% capacity. This is a problem for all forms of domestic and industrial electrical use but becomes an especially pronounced problem for commercial EV operators. Fleet operators often must charge at predesignated times to maximize uptime and complete all planned routes. If the grid fails during a charging spot, the entire schedule may be adversely affected by factors beyond an operator’s control. This is an unusual grid situation; however, it presents a possible worst-case scenario for grid-congested and EV-saturated regions. In 2022, a heatwave in California prompted the state government to ask EV owners not to charge to conserve energy. The growth in electric vehicle sales will only make such problems more widespread.
South Africa also has a very carbon-intensive energy mix, with approximately 70% of power generation being from coal. This directly translates into higher lifecycle CO2 emissions from EVs powered by the electrical grid. Whilst South Africa has a particularly fossil fuel energy mix, the source of electricity plays a critical role in the lifecycle emissions of an electric vehicle.
Disturbed generation gives renewable and grid-independent electricity
One possible solution being trialed in South Africa, amongst other places, is harnessing distributed renewable microgrids to form the backbone of charging networks. By integrating a solar farm, large-scale energy storage (ES), and high-powered charging outlets, Vrendal-based Zero Carbon Charge plans to build an etruck charging network. Not only does this decouple charging from an unreliable grid, it also avoids placing excess electrical demand on utilities, avoids the need for costly grid expansions, and provides free and 100% renewable energy for the trucks to operate on. This is not limited to South Africa; the USA, in particular, has also seen a boom in companies offering grid-free solar-powered charging. In the US, many of the products are smaller scale and transportable, allowing easy setup for EV users who want quick access to EV charging.
Easy setup, no grid connection, but slow charging rates
The main challenge with distributed solar generation for EV charging is the low power output of photovoltaic panels. Most produce around 250 Watts per square meter, which is relatively low. In fact, to charge at 22kW (generally considered Level 2 fast charging), a solar canopy would need to be at least 10 x 10 meters, a considerable footprint, especially in an urban environment. The other challenge is storing energy, as charging will not always be required constantly, so an on-site battery is required to store the generated electricity. Without an integrated on-site battery, charging is impossible when there is no sunlight, such as inclement weather or overnight. On-site battery storage can combat this intermittency.
Larger solar farms with integrated energy storage can become islanded microgrids, and with enough on-site storage and photovoltaic production, potential grid-independent fast charging is possible. This is the approach proposed for the South African etruck charging network. It is important to note that purely solar solutions are likely to be geographically restricted to areas with high photovoltaic potential. Thus, it is no surprise that the leading regions are Western regions of the US and places like South Africa. Beam Global, a supplier of EV canopy chargers, recently announced its first sales in the European market to the United Kingdom Ministry of Defense. However, the chargers will not be deployed in the mainland of the UK; they will be deployed on a military base in Cyprus, one of the sunniest regions on the continent.
Despite technical challenges, the aging and fossil fuel-heavy nature of grids combined with high EV uptake call for new charging solutions, and IDTechEx predicts that solar charging systems will make up a sizeable portion of the overall US$16 billion off-grid charging infrastructure hardware market by 2034. IDTechEx research also indicates several other technologies likely to be adopted for off-grid EV charging. Hydrogen fuel cell charging is likely to emerge as a key solution for use cases requiring much greater power per area, with a particular expected focus on electrified construction sites. More niche technologies include AWE (airborne wind energy), which harnesses high altitude winds for distributed power generation. For an in-depth look at solar EV charging, as well as alternative technology options such as AWE and hydrogen see IDTechEx’s latest research on the topic, “Off-Grid Charging For Electric Vehicles 2024-2034: Technologies, Benchmarking, Players and Forecasts”.
To find out more about this IDTechEx report, including downloadable sample pages, please visit www.IDTechEx.com/OffGridEV.
For the full portfolio of electric vehicle market research from IDTechEx, please see www.IDTechEx.com/Research/EV.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com.
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Lucy RogersSales and Marketing [email protected] +44(0)1223 812300
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Artificial Intelligence
Doosan Robotics Unveils Max-Powered ‘PRIME-SERIES’ of Collaborative Robots at Automate 2024
The New P-SERIES Unleashes Efficiency with a 30 Kilogram Payloadand the Longest Reach of Any Cobot to Date
CHICAGO, May 6, 2024 /PRNewswire/ — Doosan Robotics Inc., one of the world’s leading collaborative robot (cobot) manufacturers, unveiled its newest and most powerful P-SERIES (PRIME-SERIES) today at Automate 2024, bringing to the world of robotics the longest reaching cobot to date.
Today’s P-SERIES announcement by Doosan Robotics was marked by a show floor unveiling of the new P3020 – the world’s most powerful cobot for palletizing in existence. The P3020 offers a payload of 30kg (60lbs) and reach of 2,030mm (80in), bringing the ability to palletize from floor to 2m high (stacking up to 10 layers of boxes approximately 8 inches tall) using its simple fixed base without a lift.
Doosan Robotics has successfully dominated the high-payload cobot market in the 20kg range and above, which includes advanced palletizing solutions. Since launching the H-SERIES in 2022, Doosan Robotics has attracted major global customers such as Schiphol Airport and Wacker Korea, significantly enhancing its global market share by 72%. This year, with the introduction of the P-SERIES, the cobot featuring the highest payload and reach yet, expectations are set to soar beyond previous achievements.
Additional key features of the P-SERIES cobot lineup include lower power consumption compared to similar payload cobots by applying its built-in gravity compensation mechanism, inherent wrist-singularity free, and a 5 degree-of-freedom movement with the 4th axis removed and 6th axis speed increased to 360 degrees/second. Doosan Robotics’ continued priority on optimal safety across its solutions is also fully present in the new P3020. This includes achieving the highest PL (e) and Cat 4 safety ratings to ensure both a max-powered and max-safety experience for users.
The motion platform company’s newly unveiled P3020 palletization cobot will be on full display (Booth #850) at Automate 2024 (May 6-9), alongside the company’s ready-to-sell solutions with best-in class partners in Machine Tending, Palletizing, Welding, and Food & Beverage services.
Driven by its vision to elevate everyday experiences and redefine labor workflows, Doosan Robotics provides a wide, exceptional range of AI cobots aimed to bring about a paradigm shift across various sectors, such as palletizing, manufacturing, logistics, food & beverage, architecture, and service industries. These cutting-edge solutions transcend the constraints of conventional robotics, adeptly maneuvering through intricate scenarios while infusing tasks with enhanced efficiency, safety, and ingenuity. Moreover, the AI system boasts continuous learning capabilities, effortlessly updating its model by autonomously downloading required modules for smooth integration.
“As a motion platform company, Doosan Robotics is meeting the ever-growing need for cobots to mimic human motion, powerfully and safely,” said William Ryu, CEO at Doosan Robotics. “The robotics industry continues to grow at an exponential pace and our lineup of software, cobots and AI differentiates us in our mission to develop cobots with a ‘max-powered, max-efficiency, max-safety’ mindset.”
For more details and videos on the new P3020 cobot by Doosan Robotics, please visit the Doosan Robotics YouTube channel here. For more info, images, and other assets regarding Doosan Robotics’ Automate 2024 overall presence, please visit the press kit here or contact [email protected].
ABOUT DOOSAN ROBOTICSDoosan Robotics is a global leader in collaborative robot solutions, embodying the principle of ‘Innovation in every motion, revolutionizing the way we work.’ Doosan robots, known for world-class safety and precision, enhance task efficiency across various sectors from manufacturing to service, enabling people to focus on more valuable work. More information about Doosan Robotics is available at https://www.doosanrobotics.com/en/.
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Artificial Intelligence
Enghouse announces expansion of our cloud contact center technology in the Middle East through our partnership with Voxtron
MARKHAM, ON, May 6, 2024 /PRNewswire/ — Enghouse Interactive, a global leader in contact center and video technology solutions, is proud to announce a strategic partnership with Voxtron, the premier provider of call center solutions in the Middle East. This collaboration is marked by Voxtron’s introduction of the innovative Voxvantage Cloud Contact Center as a Service (CCaaS), leveraging advanced contact center technology from Enghouse.
The Official Launch will take place at the Grand Hyatt Dubai. Industry participants and media are invited to RSVP to attend by emailing [email protected].
Date: 9th May 2024 Time: 6:00 PM to 10:00 PM Venue: Grand Hyatt Dubai, RSVP: [email protected]
Voxvantage CCaaS marks a significant advancement for Enghouse Systems, underscoring a commitment to enhancing customer experiences throughout the region. Hosted on the robust data center infrastructure of Moro Hub, Voxtron guarantees exceptional reliability, security, and scalability.
The launch will feature distinguished speakers, including Tracy Reynolds, Canadian Consul General in Dubai, Vincent Mifsud, Global President of Enghouse Systems, and Arif AlMalik, Chief Digital Products Officer of Moro Hub. They will explore the transformative potential of contact solutions in improving customer experience (CX) in the Middle East.
Mr. Mifsud expressed his enthusiasm about the partnership, stating, “We are excited to collaborate with Voxtron and Moro Hub. This partnership is crucial as we aim to provide our call center technology, enhance our presence across the Middle East by providing customers with leading technology that improves customer experiences.”
The event will also offer excellent networking opportunities and insightful discussions on the future of customer engagement solutions.
About Enghouse Interactive:
Enghouse Interactive, a subsidiary of Enghouse Systems Limited, is a global leader in contact center software and video technology solutions offering its customers and partners the valuable advantage of choice. Enghouse Interactive empowers businesses to transform contact centers from cost centers into powerful growth engines by simplifying complex integrations through open standards and supporting various telephony technologies to ensure seamless customer accessibility across channels and locations.
About Voxtron:
Voxtron Middle East is headquartered in Dubai, U.A.E., and has a global presence with offices and affiliates in Qatar, India, Germany, Austria, Belgium, Italy, Turkey, Tunisia, Hong Kong, Portugal, and Thailand. Voxtron has been delivering cost-effective customer engagement optimization solutions in collaboration with leading technology vendors such as Enghouse Interactive, SAGE, Verint, and Clarabridge, for over a decade. This extensive portfolio positions Voxtron as a unique provider capable of delivering complete, fully-featured solutions to customers and partners.
Enghouse Video Contact: Tim Peters, VP, Global Demand Generation Leader, Enghouse Systems, [email protected]
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Artificial Intelligence4 days agoCleverTap launches Clever.AI, the AI-Driven Edge for Customer Engagement & Retention
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Unveiling the Complex Psychological Implications of Artificial Intelligence
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