Amity Solutions (ASOL), a leading Thai software and generative AI (GenAI) developer, has announced its acquisition of a majority stake in UK-based call analytics and intelligence leader, Tollring. This strategic move follows ASOL's recent Series C funding announcement and is a significant milestone in bolstering the company's GenAI capabilities, expanding its offerings, and enhancing its global customer reach.
Tollring, recognized as one of the world's foremost providers of call analytics and intelligence solutions, serves over 20,000 businesses across the UK, Europe, the U.S., and Australia. The company has gained prominence for its innovative use of AI and GenAI technologies in its product suite.
"This acquisition marks a pivotal moment in ASOL's journey towards becoming Thailand's GenAI champion," said Korawad Chearavanont, Executive Chairman and Founder of ASOL. "Tollring's expertise in AI-powered voice and call analytics aligns perfectly with our strategy and significantly enhances our capabilities in this crucial field."
The transaction, valued in the 10-digit THB range, is expected to yield several key benefits:
- Strengthened GenAI Capabilities: Tollring's leadership in AI-powered voice and call analytics complements and expands ASOL's existing GenAI initiatives.
- Enhanced Global Presence: The acquisition reinforces ASOL's international strategy, building upon its already substantial global revenue and profit streams.
- Product Synergies: Tollring's product lineup integrates seamlessly with ASOL's current offerings, creating opportunities for cross-synergies on a global scale.
Tollring's innovative product suite empowers businesses with comprehensive visibility and control over their voice communications. By leveraging advanced call analytics, AI-driven conversational insights, and integration with leading communications platforms, organizations can optimize call performance, ensure compliance, and make data-driven decisions to enhance customer experience and interactions.
Key features of Tollring's offerings include AI-powered recording and analysis for improved decision-making, advanced call analytics for optimizing customer interactions, and collaborative analytics for effective team management. These capabilities span applications such as call recording, compliance management, customer interaction analysis, and collaboration analytics. The company's impressive clientele includes top enterprises such as BT Group, KPN, Dstny, CallTower, Mitel, and NFON.
Tony Martino, CEO of Tollring, added, "Tollring has gone from strength to strength in recent years and our success has been built on the foundation of a great workplace culture coupled with a strong product strategy razor focussed on delivering on the needs of our customers. We are very excited about the next chapter of our journey as part of ASOL where we will be able to deliver unprecedented scale and value to our customers and partners, especially during this time of immense transformation and opportunity in our industry."
As part of the acquisition, ASOL welcomes approximately 120 new colleagues based in London and New Delhi, further diversifying its global talent pool and operational footprint.
"We have been very impressed with Tollring's management team, and we look forward to supporting the business under Tony's leadership," said Keng Teik Koay, Group CEO of ASOL. "We are extremely excited about the opportunity that lies ahead for our combined business as we look forward to taking our collectively enhanced solutions to the global market."
This tie-up underscores ASOL's commitment to innovation and its ambition to lead in the GenAI space, not just in Thailand but on a global stage.
Vantage Capital Markets HK Limited acted as the financial advisor to ASOL.
Tollring was advised by Acuity Advisors, 360 Law Services, Buzzacott LLP, Incredible Results and Berrybridge.
To learn more about Amity Solutions' comprehensive AI solutions, please visit https://www.amitysolutions.com/.