Digerati Technologies (OTCQB: DTGI), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market, today announced its entry into a definitive agreement to acquire Nexogy, Inc., a leading provider of cloud communication and broadband solutions tailored for businesses. According to the update, the combination of Digerati’s operating subsidiary, T3 Communications, Inc. (“T3”) and Nexogy generated $12.7 million in annual revenue on a trailing twelve months (“TTM”) pro forma basis, while the consolidation of telecommunications infrastructure and integration of cloud PBX platforms and back-office systems is expected to produce cost savings and EBITDA improvements. “The acquisition of Nexogy aligns perfectly with our strategic plan and meets the geographic, financial, and technological criteria of our disciplined M&A strategy,” Digerati Chief Executive Officer Arthur L. Smith said in the news release. “During the due diligence phase, we were most impressed with Nexogy’s team and organic growth driven by its established and well recognized channel sales program, streamlined back-office operation, and culture of customer care. We are excited about the tremendous value these attributes will bring to our combined offerings in the lucrative corridors we serve in Texas and Florida, and I expect the deal to be immediately accretive to earnings and have a positive effect on net equity.”
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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(TM). For more information about Digerati Technologies, please visit www.Digerati-Inc.com.
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