Avant Technologies
Avant Technologies, Inc. (OTCQB: AVAI) (“Avant” or the “Company”), an artificial intelligence technology (AI) company specializing in developing innovative and advanced AI and AI infrastructure solutions, today announced that it has entered into negotiations to acquire a privately held healthcare technology and data integration services firm in a cash-and-stock transaction valued at approximately $2 million.
Financial and Strategic Benefits of this Acquisition for Avant:
- This potential acquisition would significantly improve Avant’s financial health due to the immediate gains in revenue and operating cash flow generated from the existing long-term customer contracts Avant would inherit.
- Strengthens Avant’s expertise and reputation in handling healthcare, clinical, and financial data. This will boost the Company’s sales and execution capabilities within the healthcare sector, which has become a booming market for AI research, development, and adoption.
- Creates a well-established and experienced professional services team within Avant, which allows the company to effectively address the increasing needs of both existing and potential customers.
- Unlocks profitable new opportunities to sell additional services (upselling) and related products (cross-selling) to our existing customer base. This includes expanded professional services, automated data integration, powered by AvantAI®, and enhanced infrastructure through our new high-density compute offerings.
- This potential acquisition bolsters Avant’s internal software development team, which accelerates the delivery of Avant’s new high-density computing solutions, and supports the Company’s ongoing research and development efforts.
Timothy Lantz, Avant’s Chief Executive Officer
“We are excited about this opportunity to accelerate Avant’s growth within the healthcare sector and create new value for our customers and shareholders. This acquisition will serve to further strengthen our financial position, unlock new growth opportunities in one of the top segments of AI adoption, and bolster our internal product development and client services capabilities.”