AVCTechnologies and Rand Technology Initiate Master Service Agreement

AVCTechnologies and Rand Technology Initiate Master Service Agreement

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ATLANTA, April 22, 2021 (GLOBE NEWSWIRE) — American Virtual Cloud Technologies Inc. (NASDAQ: AVCT), a leading cloud communications and IT service provider, and Rand Technology (Rand) have entered into a Master Service Agreement whereby Rand’s IT asset disposition (ITAD) facility will provide AVCT’s Computex Technology solutions (“Computex”) with R2 compliant white glove solutions, including IT asset recovery, secure data destruction and asset reporting. AVCT’s Computex specializes in delivering integrated data centers, complex enterprise networking, cybersecurity, unified cloud communications, and managed services. Rand offers full product life cycle support and secure asset recovery to maximize the useful life and recovery value of IT equipment.

“We are excited to engage in partnership with Rand, as a global electronics and supply chain leader, Rand Technology provides AVCtechnologies with expanded capabilities to provide network and cloud infrastructure, for buildouts and deployments globally,” said Worth Davis, Business Unit President at AVCT’s Computex.

“AVCT is an emerging leader in global IT solutions, providing a comprehensive bundle of cloud communications, managed services, cybersecurity, systems integration and enhanced connectivity that we desire to further enhance through our partnership,” said Doug Schilletter, VP & General Manager of Rand’s ITAD operations.

About American Virtual Cloud Technologies, Inc.

American Virtual Cloud Technologies, Inc. (“AVCT”; Nasdaq: AVCT) is a premier global IT solutions provider offering a comprehensive bundle of services including unified cloud communications, managed services, cybersecurity, and enhanced connectivity. Our mission is to provide global technology solutions with a superior customer experience. For more information, visit https://www.avctechnologies.com.

About Rand Technology

Rand Technology (“Rand”), headquartered in Irvine, CA, is a global electronics sourcing and supply chain leader, providing Fortune 500 customers with full lifecycle services, including distribution, aftermarket services, and asset recovery. With an operating history of almost 30 years, Rand uses data-driven market intelligence to support customers facing inventory shortages or excesses, sourcing, and other key supply chain management needs. Rand’s ITAD operations are headquartered in Tennessee.

Rand’s preferred status with top-tier OEMs, electronics manufacturing service (“EMS”) providers, and sourcing partners, uniquely enable the Company to match supply and demand for components on a global basis. For more information about Rand, visit www.randtech.com or follow Rand on LinkedIn.

To schedule an interview with key executives at Rand, please contact Tawnie Bassett-Parkins at tawnie.bassett-parkins@randtech.com.

AVCT Press Contact

Jackie D’Andrea

Inkhouse, LLC

avctechnologies@inkhouse.com

AVCtechnologies Named to the CRN® 2021 Tech Elite 250 List

AVCtechnologies Named to the CRN® 2021 Tech Elite 250 List

CRN awards the highest-achieving IT solution provider in vendor certifications to Computex, an AVCtechnologies brand

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ATLANTA, April 21, 2021 (GLOBE NEWSWIRE) — American Virtual Cloud Technologies Inc. (NASDAQ: AVCT) (AVCtechnologies), the leading cloud communications and IT service provider, announced today that it has been named to the CRN® 2021 Tech Elite 250 list. This is the ninth consecutive year AVCtechnologies’ brand, Computex, has been included on the list. The annual list features IT solution providers of all sizes in North America that have earned cutting-edge technical certifications from leading technology suppliers. These companies have separated themselves from the pack as top solution providers, earning multiple, premier IT certifications, specializations, and partner program designations from industry-leading technology providers.

Each year, The Channel Company’s research group and CRN editors distinguish the most client-driven technical certifications in the North American IT channel. Solution providers that earn these high honors — which enable them to deliver exclusive products, services, and customer support — are then selected from a pool of online applicants as well as from The Channel Company’s solution provider database.

“We’re honored to be included in the CRN Tech Elite 250 list for the ninth consecutive year. Our team is client-driven and strives to provide products, services, and support to our partners and customers that make an impact on their businesses,” said Worth Davis, President, Solution Provider at AVCtechnologies.

“Throughout the year we’ve seen our customers migrate to the cloud at a rapid pace and deal with unexpected cybersecurity adjustments. We’re happy to have been at the forefront of these adjustments as they navigate through their digital transformations to provide them with world class support along the way,” said Faisal Bhutto, President, Cloud & Cybersecurity at AVCtechnologies.

As a part of AVCtechnologies, Computex Technology Solutions (“Computex”) offers flexible, reliable services that enable enterprise customers to navigate the changing cybersecurity ecosystem impacted by the pandemic. AVCtechnologies encourages high levels of training and certifications for its engineers, enabling them to rise through the ranks of vendor partner programs. The AVCtechnologies team provides around the clock customer service and prioritizes the customer experience as a means to establish long standing relationships. Businesses rely on solution providers for an enormous amount of technologies, services, support and expertise to help them meet today’s IT challenges — whether it’s a new implementation, day-to-day operations or digital transformation initiatives.

“CRN’s Tech Elite 250 list highlights the top solution providers in the IT channel with the most in-depth technical knowledge, expertise, and certifications for providing the best level of service for their customers,” said Blaine Raddon, CEO of The Channel Company. “These solution providers have continued to extend their talents and abilities across various technologies and IT practices, demonstrating their commitment to really conveying the most exceptional business value to their customers.”

The Tech Elite 250 will be featured in the April issue of CRN® Magazine and online at www.CRN.com/techelite250.

About American Virtual Cloud Technologies, Inc.
American Virtual Cloud Technologies (Nasdaq: AVCT) is a premier global IT solutions provider offering a comprehensive bundle of services including unified cloud communications, managed services, cybersecurity, and enhanced connectivity. Our mission is to provide global technology solutions with a superior customer experience. For more information, visit https://www.avctechnologies.com.

About Computex Technology Solutions
Computex Technology Solutions, an AVCtechnologies company, is an award-winning solutions provider that enables its clients to grow, differentiate and evolve their business via innovative and proven technology. Computex combines over 30 years of hands-on experience with unparalleled processes to deliver enterprise networking, cloud, and cybersecurity data center solutions, as well as managed services, to meet customers’ unique IT, business, and budgetary goals. To learn more, please visit: https://computex.net/ or call 888-335-2789.

About the Channel Company
The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers, and end users. Backed by more than 30 years of unequalled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. www.thechannelcompany.com
   
Follow The Channel Company: TwitterLinkedIn, and Facebook.

© 2021. CRN is a registered trademark of The Channel Company, LLC. All rights reserved.

Press Contact
Jackie D’Andrea
Inkhouse for AVCtechnologies
avctechnologies@inkhouse.com

The Channel Company Contact
Jennifer Hogan
The Channel Company
jhogan@thechannelcompany.com

Pensare Completes Business Combination with Computex to Form American Virtual Cloud Technologies

Pensare Completes Business Combination with Computex to Form American Virtual Cloud Technologies

Led by an Executive Team Responsible for Architecting Multi-Billion Dollar Enterprises Across TMT Sector, Combination Is a Nasdaq-Listed Company Poised to Become Premiere IT Solutions and UCaaS Provider

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ATLANTA, April 07, 2020 (GLOBE NEWSWIRE) — Pensare Acquisition Corp. (NASDAQ: WRLS) (“Pensare”), a publicly-traded special purpose acquisition company, is pleased to announce that it has completed its previously announced business combination with Stratos Management Systems, Inc. and its operating companies, which do business as Computex Technology Solutions (“Computex”), a leading IT Solutions and Managed Services Provider (MSP) with a 30-year legacy of success. 

The business combination was approved at a special meeting of stockholders of Pensare on February 27, 2020, and closed on April 7, 2020. In connection with the transaction, Pensare has changed its name to American Virtual Cloud Technologies (“AVCT” or the “Company”). The shares of common stock of AVCT are expected to begin trading on the Nasdaq tomorrow, April 8, 2020, under the symbol “AVCT” and the warrants of AVCT are expected to trade on the Nasdaq under the symbol “AVCTW.”

Computex will continue to operate under its name and its Executive Leadership team of Sam Haffar, Chief Executive Officer; Faisal Bhutto, EVP of Enterprise Networking, Cloud & Cybersecurity; Worth Davis, EVP & CTO; Chris Laney, EVP of Sales; and Jesus Perez, EVP & CFO will continue to lead Computex and work alongside AVCT to expand into new markets.

AVCT believes it is well-positioned to quickly emerge as a force in the UCaaS market. AVCT’s new product portfolio, coupled with its previously announced agreement with AT&T, will enable AVCT to target mid-market business customers with cloud-based, fully managed unified communications, networking, and managed IT solutions, including remote workforce capabilities.

“With the completed acquisition of Computex, we now have a strong platform where we can build a premier virtual cloud communications and technology provider,” said AVCT CEO Darrell Mays. “AVCT’s strategy is to provide Computex with the capital, expertise, and resources they need to enhance their growth organically as well as enable acquisitions to enter new markets.”

To further enhance its leadership and strategic management, AVCT has appointed Thomas King as Chief Financial Officer and, as previously announced, Graham McGonigal as Chief Operating Officer to help execute on the overall growth strategy with Computex. Mr. King has an extensive background as senior executive with various private equity sponsored and public companies including Allied System Holdings, Inc. and WestRock Company. Mr. McGonigal will draw from his experience in his previous roles as Chief Operating Officer of nsoro and MasTec Network Solutions as well as executive positions at AT&T, Vonage, Cingular Wireless, and Bellsouth.

“We are delighted to join AVCT to expand our brand presence, offerings, and grow our market share in building a global cloud services and full-scale IT solution provider,” said Sam Haffar, CEO of Computex. “We believe this transaction will not only allow us to better serve the existing customers responsible for Computex’s success to date, but also further enhance our strategic leadership and business planning prowess to turn market potential into steady growth.”

Summary of Transaction

Pensare acquired Computex for a mix of shares of the Company’s common stock, subordinated debentures, warrants to purchase shares, and assumption of indebtedness. The debentures and warrants were in the same forms as those issued and sold by the Company in a private placement effected by the Company in connection with the transaction.

About American Virtual Cloud Technologies
AVCT is an integrated IT solutions and managed services provider. AVCT completed a business combination with Computex in April 2020. AVCT, incorporated in 2016, was formerly known as Pensare Acquisition Corp. and changed its name to AVCT in April 2020. For more information, visit www.avctechnologies.com.

About Computex Technology Solutions
Computex Technology Solutions is an award-winning solutions provider committed to helping clients grow and evolve their business through technology for over 30 years. Computex comprises a talented team of architects and engineers that specialize in delivering solutions in data centers, enterprise networking, cloud, cybersecurity, managed services, unified communications, and innovative solutions. Computex was founded in 1987 and is headquartered in Houston, Texas with offices throughout the United States. For more information, visit https://computex.net/

Forward Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations. These statements are based on various assumptions and on the current expectations of AVCT management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of AVCT. These forward looking statements are subject to a number of risks and uncertainties, including changes in the Company’s clients’ preferences, prospects and the competitive conditions prevailing in the industries in which the Company operates; the Company’s substantial indebtedness; risks associated with the potential effects of COVID-19 on the Company’s business; and those factors discussed in the Company’s definitive proxy statement dated February 13, 2020 under the heading “Risk Factors,” and other documents of the Company filed, or to be filed, with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company does not presently know of or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause the Company’s assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contact:
info@pensaregrp.com

AVC Technologies Announces Receipt of Unsolicited Non-Binding Acquisition Proposal and Exploration of Strategic Alternatives

AVC Technologies Announces Receipt of Unsolicited Non-Binding Acquisition Proposal and Exploration of Strategic Alternatives

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ATLANTA, April 07, 2021 (GLOBE NEWSWIRE) — American Virtual Cloud Technologies, Inc. (NASDAQ: AVCT) (“AVC Technologies” or the “Company”) today announced that it has received an unsolicited non-binding proposal, subject to certain conditions, to acquire all of the issued and outstanding shares of common stock of the Company (on an as-converted and as-exercised basis) for a price of approximately $9.00 per share.

As a result, the Board of Directors has determined to commence a process to explore, review and evaluate a range of potential strategic alternatives available to the Company, including the unsolicited acquisition proposal, and intends to retain a financial advisor shortly to assist in this process.

“Our Board of Directors is committed to enhancing value for all of our stakeholders, and this review is an important and timely next step in the growth and evolution of the Company,” said Darrell J. Mays, Chairman of the Board of Directors. Xavier Williams, Chief Executive Officer of the Company, added, “While we conduct this review, we will remain focused on executing our business plan and continuing to deliver value for our customers.”

The Company’s Board of Directors has not set a timetable for this process nor has it made any decisions related to strategic alternatives, including the unsolicited proposal, at this time. No assurance can be given that the Company’s exploration of strategic alternatives, including the unsolicited proposal, will result in any change in strategy, any discussions regarding a transaction or a transaction being entered into or consummated, or if a transaction is undertaken, as to its terms, structure or timing. The Company does not expect to make further public comment regarding these matters unless and until the Board has approved a specific transaction or alternative or otherwise concludes its review of strategic alternatives.

Greenberg Traurig, LLP is acting as legal advisor to the Company.

About American Virtual Cloud Technologies
AVC Technologies makes comprehensive and innovative cloud-based UCaaS, Cybersecurity, and IT solutions simple for over 900 enterprise customers, including 350+ managed service clients. Our mission is to be your single destination partner for the white-glove delivery of reliable and secure managed cloud services, hardware, and software.

For more information, visit www.avctechnologies.com.

PRESS / ANALYST CONTACT

American Virtual Cloud Technologies, Inc.
Thomas King
+1 (404) 239-2863
info@avctechnologies.com

Caution Regarding Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the Company’s future prospects and the Board’s review of potential strategic alternatives, the timing of such review, and the possible outcomes of such review. The Company’s actual results or outcomes and the timing of certain events may differ significantly from those discussed in any forward-looking statements, including as a result of the uncertainty associated with being able to identify, evaluate and complete any strategic transaction or alternative, the impact of the announcement of the Board’s review of strategic alternatives, as well as any strategic transaction or alternative that may be pursued, on the Company’s business, including its financial and operating results and its employees and clients. These statements are based on various assumptions and on the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability.

Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including changes in the Company’s clients’ preferences, prospects and the competitive conditions prevailing in the industries in which the Company operates; the Company’s substantial indebtedness; risks associated with the potential effects of COVID-19 on the Company’s business; risks that the recently-acquired Kandy Communications business will not be integrated successfully; ability to retain key personnel; the potential impact of consummation of the Kandy Communications acquisition on relationships with third parties, including customers, employees and competitors; conditions in the capital markets; and those factors discussed in the Company’s annual report on Form 10-K filed with the SEC on March 31, 2021 under the heading “Risk Factors,” and other documents of the Company filed, or to be filed, with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this report. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements.