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AVCtechnologies Announces Michael Dennis as New COO

Veteran telecommunications and technology executive selected to lead worldwide operations.  Graham McGonigal will focus on key strategic planning initiatives

ATLANTA, Dec. 07, 2020 — American Virtual Cloud Technologies, Inc. (NASDAQ: AVCT), a leading cloud communications and IT service provider, is pleased to announce Michael A. Dennis joined the company as Chief Operating Officer on December 1, 2020.

Mr. Dennis succeeds Graham McGonigal who has served as AVCT’s Chief Operating & Strategy Officer. Mr. McGonigal will continue as AVCT’s Chief Strategy Officer.

Mr. Dennis is a veteran in the telecommunications and technology industries with twenty-five years of executive leadership and strategic execution leveraged across AT&T, Lucent Technologies, and Avaya. Over the course of his career, he held various Executive Leadership positions responsible for sales, sales operations, customer service, project management, manufacturing, outsourcing, professional services, infrastructure, and digital platform management. Most notable, during his tenure at Avaya as Group Vice President, Michael managed a service revenue portfolio of $3+ billion and twenty-five thousand associates with the responsibility to grow forty-three percent of the total technology equipment and professional service revenue base. He was a member of the Senior Leadership team that took Avaya public in 2000.

Mr. Dennis is an entrepreneur with a proven track record for delivering extraordinary profits by leveraging executive relationships to drive sales growth and access to new opportunities and partnerships. He was the principal owner of General Sports Venue-Astro Turf, a certified minority business enterprise and national synthetic turf company with exclusive rights to the AstroTurf brand, which he sold in 2009. In 2002, he served as a Partner and Chief Operating Officer for JNET Communications, a minority-owned firm serving the cable industry through installation and construction services. Mr. Dennis provided executive oversight for an $80M portfolio managing fiber and coax construction and infrastructure programs across the United States.

In his most recent position, Michael served as the President and Chief Executive Officer of Big Green Group (BGG), a Cellular Telecommunication and Broadband Services provider. He developed strategies to generate margins of twenty-five percent over the $8M revenue base, managing fiber deployment, installation, and maintenance for cellular towers. BGG’s clients included Ericsson, Sprint, T-Mobile, AT&T, and Sirius/XM. The company received MetLife’s small business of the year award in 2016.

“I am most grateful for the opportunity to join the AVCT team,” said Dennis. “It’s an honor to be a member of such a seasoned team of leaders who will shape the future of cloud communications, information technology, and managed service solutions. I welcome the opportunity to accelerate our growth to meet our strategic objectives. I am committed to helping the company achieve success by focusing on customer service, operational execution, and the engagement and contribution from the entire AVCT team.”

“As we enter a ‘New Day’ at AVCtechnologies, we are fortunate to have a seasoned operating executive and proven entrepreneur join us as the firm continues to evolve and grow,” said Xavier Williams, CEO AVCtechnologies.

Mr. Dennis has been featured in the New York Times’ Business section in an article regarding “Workforce Management Innovation” and profiled in the Sunday Times Boss’ column. He was recognized as one of the “Top 50 African-American leaders in Corporate America, Black Enterprise magazine. Michael also received the prestigious Eagle Award from the National Eagle Leadership Institute (NELI) in 2000. He served as the chairperson for INROADS, Central New Jersey, from 2003 to 2005. Mr. Dennis looks forward to joining the team at AVCtechnologies.

He earned a BA from Dartmouth College and has completed multiple executive programs – Darden School of Business, University of Virginia; Haas Business School, University of California at Berkeley; and the Tuck School of Business at Dartmouth College.

About AVCtechnologies
AVCtechnologies provides comprehensive and innovative cloud based UCaaS, Cybersecurity, and IT solutions for over 900 enterprise customers, including 350+ managed service clients. Our mission is to be your partner for the delivery of reliable and secure managed cloud services, hardware, and software with an excellent customer experience. For more information, visit avctechnologies.com.

Non-Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Important Information Regarding Forward-Looking Statements
This release contains forward-looking statements concerning AVCtechnologies, Kandy and Ribbon, the anticipated results of the transaction and other matters.  These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of AVCtechnologies and Ribbon, as well as assumptions made by, and information currently available to, such management.  Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “seek,” “see,” “plan,” “could,” “would,” “should,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project,” “target” or similar words, phrases or expressions, and include statements regarding the anticipated benefits of the acquisition of Kandy by AVCtechnologies and the future results of the combined business.  These forward-looking statements are subject to various risks and uncertainties, many of which are outside the parties’ control, such as statements about the consummation of the proposed transaction.

Factors that could cause actual results to differ materially from those in the forward-looking statements include risks that the new businesses will not be integrated successfully; failure to realize anticipated benefits of the combined operations; potential litigation relating to the transaction and disruptions from the transaction that could harm AVCtechnologies’ or Ribbon’s business; ability to retain key personnel; the potential impact of consummation of the transaction on relationships with third parties, including customers, employees and competitors; and conditions in the capital markets. The foregoing list of factors is not exhaustive.  All of the parties’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond the parties’ control) and assumptions that could cause actual results to differ materially from their respective historical experience and present expectations or projections.  You should carefully consider the foregoing factors and the other risks and uncertainties that affect the parties’ businesses, including those described in the most recent respective Annual Report on Form 10-K and Quarterly Reports on Form 10-Q of the parties, as well as the other documents filed by the parties from time to time with the SEC.  The parties caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof.  Neither AVCtechnologies nor Ribbon undertakes any obligation to publicly update or revise any of forward-looking statements after the date they are made, whether as a result of any changes in circumstances or new information, future events or otherwise, except to the extent required by applicable law.

PRESS / ANALYST CONTACTS

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