- MCI subsidiary Kyma Capital and other key investors have provided new funding to support Atento
- Committed attention Houlihan Lokey as a financial advisor to help with fundraising
- Atento continues to work to add additional investors to the new funding as part of the Company’s long-term goals
- This significant fundraising strengthens Atento’s balance sheet and liquidity
NEW YORK, February 3, 2023 /PRNewswire/ — Atento SA (NYSE: ATTO, “Atento” or the “Company”), one of the world’s largest providers and leading provider of customer relationship services and business process outsourcing (CRM/ BPO), confirms today that it has secured its previously announced funding program. The additional capital raised will further strengthen Atento’s balance sheet and liquidity position as management focuses on transforming the business.
Committed attention Houlihan Lokey as a financial advisor to help with this round of fundraising. As noted in the third quarter earnings call, Atento has been evaluating various financial alternatives from current investors and other institutions to improve its liquidity position. Atento will continue to work to add additional investors as part of long-term funding goals.
Atento remains focused on creating shareholder value with significant initiatives aimed at both revenue growth and operational optimization. Atento continues to work to consolidate its financial position while transforming and enhancing Atento’s next-generation customer experience. This fundraising reinforces its commitment to its more than 400 best-in-class customers and its operations in 16 countries offering best-in-class customer experience services.
The fourth quarter continued the positive trend by generating strong EBITDA margin growth, allowing the cash balance to close at $84 million on the 31st of December2022.
Atento continues to benefit from its unique leadership position in the Latin America region with a renewed sales focus on near-shore Spanish support, while remaining on track to open its first offshore operation in The Philippines with renowned clients.
Atento is the largest provider of customer relationship management and business process outsourcing (“CRM BPO”) services in Latin America, and among the world’s best suppliers. Atento is also a leading provider of outreach CRM BPO services to companies operating in United States. Since 1999, the company has developed its economic model in 16 countries where it employs around 150,000 people. Atento has more than 400 customers to whom it offers a wide range of CRM BPO services through multiple channels. Atento’s customers are mainly leading multinationals in sectors such as telecommunications, banking and financial services, healthcare, retail and public administration, among others. Atento shares trade under the symbol ATTO on the New York Stock Exchange (NYSE). In 2019, Atento was named one of the top 25 multinational workplaces in the world and one of the best multinationals to work for. Latin America by Great Place to Work®. Additionally, in 2021, Everest named Atento as a “star performer”. Gartner has named the company a Leader for two consecutive years since 2021 in the Gartner Magic Quadrant. For more information visit www.atento.com
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This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as “may”, “should”, “expect”, “anticipate”, “anticipate”, “believe”, “estimate”, “predict”, ” intends to”, “continue” or similar terminology. In particular, these forward-looking statements include those regarding the effects on Atento and its growth of changes to its management and board of directors. These statements reflect Atento’s current expectations only and are not guarantees of future performance or results. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Risks and uncertainties include, but are not limited to, competition in Atento’s highly competitive industries; increases in the cost of voice and data services or significant disruptions to such services; Atento’s ability to keep pace with its customers’ needs for rapid technological change and system availability; the continued deployment and adoption of emerging technologies; the loss, financial difficulty or bankruptcy of any key customer; the effects of global economic trends on the businesses of Atento’s customers; the non-exclusive nature of Atento’s customer contracts and the absence of revenue commitments; security and privacy breaches of the systems Atento uses to protect personal data; the cost of pending and future litigation; the cost of defending Atento against intellectual property infringement claims; extensive regulations affecting many of Atento’s businesses; Atento’s ability to protect its proprietary information or technology; disruptions to Atento’s data centers and operations; Atento’s ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; political, economic and other conditions in the countries where Atento operates; changes in exchange rates; Atento’s ability to complete future acquisitions and to integrate or achieve the objectives of its recent and future acquisitions; future write-downs of our substantial goodwill, intangible assets or other long-lived assets; and Atento’s ability to collect consumer receivables on behalf of its customers. Atento is also subject to other risk factors described in the company’s filings with the United States Securities and Exchange Commission. These forward-looking statements speak only as of the date the statements were made. Atento undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.