Tollring and Amity Solutions Forge Equity Alliance to Accelerate Generative AI Innovation

Tollring announced that it has entered a strategic equity alliance with Amity Solutions. This collaboration aims to fast-track the development of innovative Generative-AI powered applications, enhancing Tollring’s product offerings and global reach.

The alliance marks a significant milestone as Amity Solutions, a leading software and AI company from Thailand, owned by UK-incorporated and headquartered Amity Corp., aims to accelerate the adoption of its GenAI-centric portfolio, enhancing capabilities in communication, productivity and customer satisfaction across industries.

As part of the tie-up, Amity Solutions will become a majority shareholder of Tollring, deploying its AI Lab resources to help Tollring power its voice analytics software solutions with advanced Generative AI capabilities, providing a unique and enhanced value proposition for its partners and customers. Amity Solutions will also bring complementary software solutions in customer engagement, including an AI-powered chatbot/voicebot platform, helping to address customer acquisition and retention challenges more effectively. In addition, Amity Solutions’ extensive network and presence in Southeast Asia will play a pivotal role in accelerating Tollring’s international expansion. The strategic move will enable Tollring to better support its partners and end-customers worldwide.

Founded in 1993, Tollring has established itself as a market leader in customer experience analytics and recording solutions. The partnership with Amity solutions is poised to propel the company to new heights, enhancing its ability to deliver cutting-edge, AI-powered solutions on a global scale.  Existing shareholders will continue to remain invested in and committed to the success of the company, going forward.

Keng Teik Koay, Group CEO of Amity Solutions commented, “We have been very impressed with Tollring’s management team, and we look forward to supporting the business under Tony’s leadership. We are extremely excited about the opportunity that lies ahead for our combined business as we look forward to taking our collectively enhanced solutions to the global market.”

Tony Martino, CEO of Tollring, added, “Tollring has gone from strength to strength in recent years and our success has been built on the foundation of a great workplace culture coupled with a strong product strategy razor focussed on delivering on the needs of our customers. We are very excited about the next chapter of our journey as part of Amity Group where we will be able to deliver unprecedented scale and value to our customers and partners, especially during this time of immense transformation and opportunity in our industry.”

Tollring was advised by Acuity Advisors, 360 Law Services, Buzzacott LLP, Incredible Results and Berrybridge.

Source: Tollring media announcement