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OneMeta Inc. (OTCQB:ONEI), a Nevada-based company specializing in computer processing and data preparation, announced on Monday that it has entered into a material definitive agreement with inContact, Inc., a Delaware corporation affiliated with the global customer service giant NICE Ltd. The agreement, effective as of October 8, 2024, stipulates that inContact will distribute and sell OneMeta's proprietary over-the-phone consecutive AI language translation solutions.
The partnership grants inContact exclusive rights to offer OneMeta's solutions for eighteen months, with the initial term of the agreement set for three years. According to the terms, inContact will compensate OneMeta based on the usage of the AI translation solutions by inContact's customers.
This strategic alliance positions OneMeta to leverage inContact's extensive market reach, potentially enhancing the company's visibility and adoption in the customer service industry. NICE Ltd., the parent company of inContact, is a prominent player in the sector, with its shares traded on both the Tel Aviv Stock Exchange and the Nasdaq Global Select Market.
The collaboration between OneMeta and inContact signifies a step forward for OneMeta in expanding its service offerings and gaining a stronger foothold in the technology service market. The financial details of the agreement, including the fee structure based on usage, have not been disclosed.
The news is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, OneMeta Inc. has announced a partnership with Genesys Cloud Services, Inc., a key player in the customer experience industry. The partnership allows OneMeta Inc. to join the Genesys AppFoundry Program as an AppFoundry ISV Partner, offering its software solutions through the AppFoundry marketplace. This move is expected to extend OneMeta Inc.'s reach to Genesys customers seeking innovative data processing tools and services.
The partnership agreement includes a non-refundable revenue share to Genesys, calculated as a percentage of the revenue from sales made through the AppFoundry marketplace. This arrangement aims to align the interests of both parties in promoting and selling OneMeta Inc.'s software products. The agreement also allows for termination by either party with a ninety-day written notice, providing flexibility to both OneMeta Inc. and Genesys.
These are recent developments that may enhance OneMeta Inc.'s market position by leveraging Genesys's established customer base and marketplace infrastructure. The collaboration is anticipated to increase the company's visibility and accessibility to potential users within the Genesys ecosystem.
InvestingPro Insights
The recent partnership between OneMeta Inc. (OTCQB:ONEI) and inContact presents an intriguing opportunity for the company, especially in light of its current financial position. According to InvestingPro data, OneMeta's market capitalization stands at $16.18 million, with a revenue of just $0.03 million in the last twelve months as of Q2 2024. This new agreement could potentially boost the company's revenue streams, which have seen a decline of 29.78% over the same period.
InvestingPro Tips highlight that OneMeta is a niche player in its industry and operates with a moderate level of debt. These factors could work in the company's favor as it seeks to capitalize on the exclusive distribution agreement with inContact. The partnership might also help address the company's profitability challenges, as InvestingPro data indicates that OneMeta has not been profitable over the last twelve months.
Investors should note that OneMeta's stock has shown significant volatility, with a strong return of 20.61% over the last month, contrasting with a 53.77% decline over the past six months. This recent positive momentum could be partly attributed to the anticipation and announcement of the inContact deal.
For those interested in a deeper analysis, InvestingPro offers 11 additional tips for OneMeta, providing a more comprehensive view of the company's financial health and market position.
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