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I really believe people have not seen and some have not fully digested today’s PR announcement and how huge this deal bodes well financially for SOUN…
SoundHound AI Acquires Amelia, Significantly Expanding Its Scale and Reach In Conversational AI Across New Verticals and Hundreds of Enterprise Brands
I'm sure they were diluting selling stock for the last several months. That's why it's so volatile on any given day. I've day traded SOUN a million times and every buy is met with selling pressure. Never seemed right to me.
Not sure but IHub did have the 8K posted. The PR they did not.
wonder why iHub doest have it
https://www.soundhound.com/newsroom/press-releases/soundhound-ai-acquires-amelia-significantly-expanding-its-scale-and-reach-in-conversational-ai-across-new-verticals-and-hundreds-of-enterprise-brands
SANTA CLARA, CA, August 08, 2024 – SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, today announced the acquisition of Amelia, a leading enterprise AI software company. The business combination positions SoundHound AI as the foremost provider of voice and conversational generative AI, with reach across multiple industries – including retail, financial services, healthcare, automotive, smart devices, restaurants, and more.
The companies will bring together decades of experience in conversational AI – and highly complementary product portfolios – to offer best-in-class, scalable customer service support to a vast spectrum of businesses. These include some of the very largest multinational enterprise brands, top 15 global banks, and Fortune 500 organizations, with the combined company spanning nearly 200 marquee customers.
For SoundHound AI, the deal marks a significant and strategic expansion of its existing customer service pillar, adding breadth and depth to a division that has seen substantial growth amid the accelerated adoption of voice and conversational generative AI solutions. The acquisition positions the company at the center of this burgeoning space, as enterprise spending on generative AI is forecast to gather more momentum, reaching between $175 billion and $250 billion by 2027 (McKinsey, June 2024). Customer service is identified as a key area for disruption.
Combination Synergies:
Leading Position In Conversational AI: Combination of AI expertise, proprietary technology, complementary product offerings, and extensive cross-industry deployment gives the unified company a distinct competitive advantage in the burgeoning conversational AI space
Vertical Expansion Into Large Addressable Markets: Introduces new, sizable vertical industries – massively increasing the combined company’s addressable markets – with reach into industries such as healthcare, insurance, financial services, and retail, with the potential for more
Diversification of Customer Base: Hundreds of large enterprise brands, with no single customer accounting for more than 10% of total combined revenue
Revenue and Cost Advantages: Unlocks cross-selling and up-selling revenue opportunities, while SoundHound’s proprietary tech and cloud migration is expected to create cost savings
New Monetization Opportunities: Expansive voice commerce opportunities, from ordering food, to buying tickets, and making appointments from millions of devices powered by SoundHound AI
Integrations and Capabilities: Deep integration with multiple large enterprise customers and channel partners as well as a global presence that includes a strong R&D center in Bangalore, India
Acquisition Financials:
Purchase price of $80M in cash and equity, with partial payment and assumption of Amelia’s debt, as well as future earnout potential aligned to revenue milestone achievements
Combined revenue in 2025 is expected to exceed $150M with Amelia contributing over $45M in recurring AI software revenue, plus other non-software revenues such as professional services and agent-related fees.
Transaction is expected to be accretive to SoundHound earnings in the second half of 2025, with meaningful revenue and cost synergies driving growth and profitability expansion in subsequent years
At closing, the combined company holds approximately $160M of cash and $39M of debt
As well as accelerating and scaling SoundHound AI’s customer service offering, this move also allows the company’s vision of a voice commerce ecosystem to become more ambitious in its scope. With its recent acquisition of food ordering marketplace Allset, SoundHound AI began to expedite plans to bring voice transactions – like food ordering – to its range of voice-enabled products, including vehicles, TVs, and devices. Now Amelia brings new industries to this monetization pillar, with the potential to add consumer transactions across healthcare, financial services, and retail to the vision.
“SoundHound AI has emerged as a leader in bringing voice-enabled conversational AI to products and services. Now with more businesses choosing voice AI technology for customer service – and more consumers expecting a seamless, AI-powered service – this acquisition positions SoundHound as a strong force with range, scale, and world class technology,” said Keyvan Mohajer, CEO and Co-Founder of SoundHound AI. “Amelia is an innovative company that shares our passion for AI-fueled conversations. We are looking forward to leveraging our shared capabilities to offer the best AI customer support solutions available anywhere.”
“We’re excited to bring Amelia’s experience and relationships to SoundHound AI, bolstering the company’s growing AI customer service business to form a new category leader in the space,” said Lanham Napier, President of Amelia and Co-Founder of BuildGroup. “With impressive penetration into a range of vertical industries, proprietary technology, and decades of combined AI experience, SoundHound is well positioned to take advantage of burgeoning interest in conversational AI customer support.”
Alongside partner relationships built over 25 years, Amelia brings additional AI expertise to SoundHound, as well as new intellectual property, and the ability to effortlessly execute on a broader range of integrations with enterprise software. Amelia has a reputation for excellence in conversational AI, being recognized as a leader in the Gartner® Magic Quadrant™ for Enterprise Conversational AI Platforms for 2 consecutive years.
UBS Investment Bank served as the exclusive financial advisor to SoundHound.
Amelia AI does have a nice list of customers. Add that to SOUN’s customer list and should be interesting. Already they said revenues for 2025 should see $150 million.
They did issue a PR. Looks good but what do I know.
thats what it looks like along with a new/updated financing with Monroe
Hope we get a PR that puts it all in plain english
Dont know Amelia AI any is $80m a good or fair price?
Did SOUN just purchase Amelia AI for $80 million???
Anyone see and make heads or tails of the 8K SOUN just issued?
Added to my Call Options so hoping your spot on!
They will surprise the Debbie downers.
SoundHound will probably fill the gap down at $2.35. they won't have any earnings. Shorts are in control. I'm a buyer down there.
Surprised the Call Options are not being slapped harder than what they have been with all the recent events. But hey, what do I know….
With what happen over in Japan, that cause a melt down around the world
Soundhound AI did OK........
Not Just Car Market, Drive-thru like Micky D AND any other type of Business that Requires Voice Recognition
Is earnings gonna make this soar? What are your thoughts?
buyout sure, microsoft got nuan, nuan was market leader back then but SOUN got much advanced and much more versatile technology. soun have to clear back log, and more efficient in claiming market share, patience - once it start it could be nuan
If NVDA comes with the right price and deal, I can’t see the company turning it down. Would be huge for NVDA to funnel itself deep into the automotive market. Just my opinion.
They’ve turned down a lot of offers but I think they might be
short interest increased to about 80M+, Clean earning beat could lift it to $11. but likely will miss again, order backlog $682 million and increasing.
98 granted patent and about 130 total but need product service revenue before touting for 75X up side. no yahoo yet
SOUN could take notes from SER*. Stop dilluting and that's what could happen to the share price.
Some news today about Taco Bell expanding use of AI ordering, but doesn't say which software they are using. Either way, looks like more adoption of this technology. I assume SOUN is tracking if not involved.
https://finance.yahoo.com/video/taco-bell-expand-ai-powered-162332525.html
May have been Money from NVIDIA for (Interest in SOUN) SHARES?
It was a stock offering for 100 M, I believe that is what they used to pay off the debt.
Yeah, the stock will really take off when they start to show profit now that all the debt has been paid off. Will also be huge to see a bunch of the US car manufacturers start using the service in their new models as well.
You'll will see it standard first in car rentals,
then it will be an option in ALL MODELS, like Satellite Radio
Every passing month, more and more major car company models are coming online with Soundhound’s software……
All the Hedge Funds care about is.....
They are NOT LATE to the PARTY......
So they do their research and BUY EARLY and OFTEN......
hedges firms/promoters are calling it wonder stock to go up 75X .... must be la la la landish reality
Here's the notice SOUN gave the lenders......
as required by the note.
Ladies and Gentlemen:
Borrower hereby notifies Agent that Borrower intends to terminate the Credit Agreement and repay all outstanding indebtedness and other obligations owing under the Credit Agreement (including, for the avoidance of doubt, all accrued and unpaid legal fees and expenses) in full on or before June 7, 2024 (the “Outside Date”). Borrower has requested that Agent provide this letter setting forth the conditions upon which Agent will release its security interest in the Collateral (the “Release Conditions”, and the date on which the Release Conditions have been satisfied, the “Payoff Date”).
https://www.sec.gov/Archives/edgar/data/1840856/000121390024050981/ea020755001ex99-1_sound.htm
Thanks...........
Yes I believe so I assume they paid them in cash.
Oh yeah. Seems to be a little PR that a lot of people haven’t picked up on and should show fruits come Q3 and Q4 in my opinion.
This what you are talking about, I assume.........
SANTA CLARA, Calif., June 10, 2024--(BUSINESS WIRE)--SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, today announced that it reached an agreement with its lenders to prepay its outstanding $100 million debt in full.
They paid their debt off with cash. Your dilution theory is shit.
SoundHound AI (SOUN): Hedge Funds Accumulate
Shares of SoundHound AI SOUN have gained nearly 136% year-to-date and significantly outperformed the Nasdaq 100 Index (NDX) rally of about 18%.
The company that provides voice AI (artificial intelligence) solutions has benefited from the AI boom.
Using TipRanks’ Hedge Fund Trading Activity tool (which analyzes data from Form 13-Fs to offer hedge fund signals), we can see that these experts actively accumulated SoundHound shares in the last quarter.
Based on the activity of eight hedge funds, the Hedge Fund Confidence Signal is Very Positive for SOUN stock. Further, these experts increased their SOUN holdings by 804,900 shares in the last quarter.
And when you sold, was it a tax free sale?
Did you have to pay any short OR long term capital gain taxes......
GLTU
I don’t care why you sold, but thanks for the input.
Nor did I suggest a buyout was imminent.
Just curious, but did you notice the market sold off this week?
It’s rhetorical.
Now you understand why I sold. I can now buy back $1 cheaper already. Took two days from the date of the insider sell. This will never be merged or bought until they get above $6 and hold for a while in my opinion. That's what I've noticed about most buyouts. They usually happen above $5 per share for NASDAQ companies. This has support at $5 but doesn't even seem to be able to hold it
Did you see the recent acquisition by……
another insider?
The CTO sold before the recent spike in the pps last month.
I own a few thousand dollars worth. As far as I am concerned this is a speculative long term play that will pop and drop on many occasions.
The CTO sold into strength, which is good. He’s not supposed to sell with pending news that might hurt the pps. It can cause him a lot of scrutiny, or worse.
Not saying all is well, just sayin’.
GL
And that's why I sold yesterday as well. If this was going to $10 soon he would have held. They don't sell for no reason. Then it crashed to the 5.40s. He knows another offering coming soon possibly. I sister selling is just as bad as dilution. But it gives you a chance to get out before dilution hits. Maybe I'm wrong but we shall know soon enough.
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