Altigen Communications acquired all of the rights to the customer relationships of WorkSpace Communications, a cloud provider of Microsoft Unified Communications and Modern Workplace products. The strategic purchase is part of Altigens capital allocation strategy to drive its cloud growth.
WorkSpace, based in the Midwest, delivers a suite of hosted Microsoft Modern Workplace technologies that include Unified Communications and Collaboration, Office 365, Teams and integrated cloud-based Contact Center products. WorkSpace counts over 2,000 cloud subscribers among its customers, which Altigen plans to migrate to its hosted Microsoft platforms. The migration will consolidate services, simplify management, streamline customer support, and enable Altigen to achieve greater economies of scale.
Under terms of the agreement, Altigen acquired all of WorkSpaces right, title, and interest in, to and under its customer relationships. The transaction is valued at 1.6 times the annual revenues for each WorkSpace cloud customer transitioned to Altigen, which is expected to be accretive to Altigens current revenue multiple and net income. Altigen and Workspace have been partners for the past 8 years.