• Home
  • Journal
  • Public Companies
  • Digerati Technologies Provides Update of its Planned Acquisition of Nexogy, Inc. and LOI for Fourth Acquisition

Digerati Technologies Provides Update of its Planned Acquisition of Nexogy, Inc. and LOI for Fourth Acquisition

SAN ANTONIO, April 30, 2020 (GLOBE NEWSWIRE) — Globe Newswire – Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (SMB) market, is pleased to provide an update to its previously announced (from September 24, 2019) definitive agreement to acquire Miami-based Nexogy, Inc. (“Nexogy”), a leading provider of cloud communication and broadband solutions tailored for businesses.The Company and Nexogy have extended the outside date for closing the transaction to June 30, 2020.  The Company’s fourth (4th) acquisition under LOI, which is planned to close simultaneously with the Nexogy transaction, has also been extended.As previously announced, the Company plans to close the Nexogy transaction and the fourth (4th) acquisition under a larger and lower cost financing that facilitates a more streamlined approach to funding future targets in the Company’s acquisition pipeline. The Company has continued to work closely with its lenders during the COVID-19 Pandemic to establish funding availability beyond what is required for the current transactions, thus allowing for acceleration of its acquisition strategy in the future.  Arthur L. Smith, Chief Executive Officer of Digerati, commented, ” We are fortunate to have lenders that are bullish on our industry and eager to be our financing partners even during the COVID-19 Pandemic. Our UCaaS solution which is in demand today, allows business users to communicate from any location at any time and on any device supporting remote teleworking environments needed to reduce the spread of the Coronavirus. However, like all businesses, we are still faced with the broader macro issues that are affecting project and/or transactional timelines during this time.”About Nexogy, Inc.
Nexogy is a leading provider of unified communications as a service (“UCaaS”) and managed services, offering a portfolio of cloud-based solutions to the small to medium-sized business market and serving over 1,500 business accounts and 14,000 users across various industries including Education, Health Care, Financial Services, and Real Estate. Based in Miami, Nexogy is a single-source provider that allows businesses and multi-location organizations to leverage flexible, cloud-based services without the need for high capital expenditures required for legacy systems.  The product set include a diverse cloud solution consisting of voice PBX, broadband data, collaboration, and managed services. For more information about Nexogy, please visit www.nexogy.com.
About Digerati Technologies, Inc.
Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its subsidiary T3 Communications (www.T3com.com), the Company is meeting the global needs of businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions, including cloud PBX, cloud mobile, Internet broadband, SD-WAN, SIP trunking, and customized VoIP services, all delivered on its carrier-grade network and Only in the Cloud™. For more information about Digerati Technologies, please visit www.digerati-inc.com.
Forward Looking Statements
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company’s periodic filings with the Securities and Exchange Commission.
Investors
IR@digerati-inc.com
Twitter
@DIGERATI_IR

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.