MILPITAS, CA - Altigen Communications, Inc. (OTCQB:ATGN), recognized for its Microsoft (NASDAQ:MSFT) Cloud Communications Solutions, has rebranded itself as Altigen Technologies. This change, announced today, reflects the company's transition towards offering advanced customer experience solutions and services, emphasizing digital transformation in the modern workplace.
Altigen has expanded its UCaaS (Unified Communications as a Service) and CCaaS (Contact Center as a Service) customer base, with a notable presence in the financial services sector, serving over 1,500 financial institutions. The company's growth has been supported by strategic acquisitions and the recruitment of new technical leadership, which have enhanced its technology offerings and professional services.
Jeremiah Fleming, Chairman and CEO of Altigen, stated that the rebranding is a testament to the company's dedication to providing cutting-edge digital transformation solutions that add real business value. He highlighted the integration of Artificial Intelligence (AI) into their products and services as a key strategy for enabling customers to improve customer service, operational efficiency, and decision-making.
Sharique Shaikh, Director of Technology Consulting at Altigen, pointed out that while the demand for AI integration is high, many organizations lack the necessary technical expertise. Altigen addresses this gap by incorporating AI into business processes and providing these solutions as a managed service, which is often more cost-effective than hiring in-house personnel.
The rebranding includes a new logo and an updated website, while the legal company name and stock ticker, ATGN, remain the same.
Based in Silicon Valley, Altigen Technologies operates across five countries and three continents, offering cloud communication solutions and technology consulting services aimed at enhancing customer engagement, employee productivity, and operational efficiency.
This announcement is based on a press release statement, which contains forward-looking information subject to risks and uncertainties. Altigen's filings can be found on the OTC Markets website.
InvestingPro Insights
As Altigen Communications, now Altigen Technologies, forges ahead with its rebranding strategy and expansion into advanced customer experience solutions, investors and stakeholders are keeping a close eye on its financial performance and market position. The latest data from InvestingPro shows a dynamic financial landscape for Altigen. The company's market capitalization stands at a modest $18.69M, reflecting its niche position in the technology sector. Despite a negative P/E ratio of -21.01, indicating investor caution, Altigen's stock has seen significant returns recently, with a 1-week price total return of 8.7% and a 1-month price total return of 25.0%, showcasing a strong short-term bullish trend.
InvestingPro Tips highlight that while Altigen has delivered strong returns over the last month and quarter, with a 3-month price total return of 27.12%, the company suffers from weak gross profit margins and a valuation that implies a poor free cash flow yield. Additionally, it's worth noting that Altigen does not pay a dividend, which may influence investment decisions for those seeking regular income streams. For investors seeking to delve deeper into Altigen's financial health and future prospects, InvestingPro offers additional tips and metrics. A special New Year sale is currently available for an InvestingPro subscription, with discounts of up to 50%. Using the coupon code SFY24 can get you an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 for an additional 10% off a 1-year subscription. These insights could be crucial for those looking to make informed decisions about investing in a company at the forefront of digital transformation in the modern workplace.
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