Digerati Technologies Terminates Its Business Combination Agreement With Minority Equality Opportunities Acquisition, Inc.
Digerati Technologies Terminates Its Business Combination Agreement With Minority Equality Opportunities Acquisition, Inc.
SAN ANTONIO, June 23, 2023 (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, announced today that it has terminated its Business Combination Agreement (the "BCA") with Minority Equality Opportunities Acquisition, Inc. ("MEOA").
聖安東尼奧，2023年6月23日（GLOBE NEWSWIRE）— Digerati Technologies, Inc. (OTCQB： DTGI）（“Digerati” 或 “公司”）是一家專門爲中小型企業（“SMB”）市場提供UCaaS（統一通信即服務）解決方案的雲服務提供商，今天宣佈，它已終止與少數族裔平等機會收購公司（“MEOA”）的業務合併協議（“BCA”）。
Arthur L. Smith, CEO of Digerati, commented, "Due to the circumstances created by the trading halt of MEOA's stock and related Nasdaq listing application approval issues, we determined it was in the best interest of Digerati and its shareholders to terminate the BCA. Although we pursued this transaction for all the right reasons, including meeting certain corporate objectives, we reached a point where we had to do what was best for the Company and its shareholders. We need to move on, put this transaction and the associated resources and costs behind us, and continue building on the solid foundation we have constructed to date via our disciplined acquisition strategy."
Digerati首席執行官亞瑟·史密斯評論說：“由於MEOA股票暫停交易以及相關的納斯達克上市申請批准問題所造成的情況，我們認爲終止BCA符合Digerati及其股東的最大利益。儘管我們進行這筆交易是出於所有正確的理由，包括實現某些公司目標，但我們已經到了必須做對公司及其股東最有利的事情的地步。我們需要繼續前進，將這筆交易以及相關的資源和成本拋在腦後，繼續在我們迄今爲止通過嚴格的收購戰略建立的堅實基礎上再接再厲。”
Smith, continued, "Our foundation consists of a great business built by an exceptional team that has executed almost flawlessly over the last six years by sourcing, qualifying, and closing on six (6) acquisitions and subsequently delivering on fundamental ROI and EBITDA objectives upon integration. We have a solid and proven business model that has taken us from $200,000 in annual revenue to over $32 million since its launch in FY2017. During the current 2023 fiscal year, we optimized our acquisition platform that was built for scaling organically and via mergers and acquisitions. At this point, we are eager to return to acquisition mode and pursue strategic opportunities that have been on hold pending the closing of the business combination with MEOA."
史密斯繼續說：“我們的基礎是由一支優秀的團隊建立的偉大業務組成，該團隊在過去六年中幾乎完美地執行了採購、資格認證和完成六（6）次收購，隨後在整合後實現了基本的投資回報率和息稅折舊攤銷前利潤目標。自 FY2017 推出以來，我們擁有穩健而久經考驗的商業模式，已使我們的年收入從 20 萬美元增加到超過 3200 萬美元。在當前的 2023 財年，我們優化了我們的收購平臺，該平臺專爲通過合併和收購進行有機擴展而構建。目前，我們渴望恢復收購模式，尋求在與MEOA完成業務合併之前一直處於擱置狀態的戰略機會。”
About Digerati Technologies, Inc.
關於迪格拉蒂科技公司
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 operating subsidiary Verve Cloud, Inc. (f/k/a T3 Communications, Nexogy, and NextLevel Internet), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including, cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market, as it delivers business solutions on its carrier-grade network and Only in the Cloud. For more information, please visit and follow DTGI on LinkedIn, Twitter and Facebook.
Digerati Technologies, IncOTCQB： DTGI) 是一家雲服務提供商，專門爲商業市場提供 UCaaS（統一通信即服務）解決方案。通過其運營子公司Verve Cloud, Inc.（f/k/a T3 Communications、Nexogy和NextLevel Internet），該公司正在滿足尋求簡單、靈活、可靠和具有成本效益的通信和網絡解決方案的小型企業的全球需求，包括雲PBX、雲電話、雲廣域網、雲呼叫中心、雲移動以及在其寬帶網絡上輸送數字氧氣。該公司開發了一個強大的集成平臺，以在高度分散的市場中推動兼併和收購，因爲它在其運營商級網絡和Only in the Cloud上提供業務解決方案。欲瞭解更多信息，請在 LinkedIn、Twitter 和 Facebook 上訪問和關注 DTGI。
Forward-Looking Statements
前瞻性陳述
The information in this news release includes certain forward-looking statements such as 'continue building on the solid foundation we have built to date via our disciplined acquisition strategy' and 'we will pursue other strategic opportunities to grow and enhance stakeholder value,' 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 such as achieving record levels of new installed revenue and improved sales and service delivery performance 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, our inability to source suitable acquisition targets, failure to execute growth strategies, lack of product development and related market 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.
本新聞稿中的信息包括某些前瞻性陳述，例如 “繼續在我們迄今爲止通過嚴格的收購戰略建立的堅實基礎上再接再厲” 和 “我們將尋求其他戰略機會來增長和提高利益相關者的價值”，這些陳述基於的假設將來可能不準確，存在重大風險和不確定性，包括與公司未來財務業績有關的陳述。儘管公司認爲前瞻性陳述中反映的預期，例如實現創紀錄的新安裝收入水平以及改善銷售和服務交付績效，是合理的，但它無法保證此類預期或其任何前瞻性陳述會被證明是正確的。可能導致業績不同的因素包括但不限於我們無法找到合適的收購目標、未能執行增長戰略、產品開發和相關市場接受度不足、有競爭力的服務和定價的影響、總體經濟狀況以及公司定期向美國證券交易委員會提交的文件中描述的其他風險和不確定性。
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領英： 迪格拉蒂科技股份有限公司
Investors
投資者
ClearThink
Brian Loper
bloper@clearthink.capital
(602) 785-4120
ClearTh
布萊恩·洛珀
bloper@clearthink.capital
(602) 785-4120
譯文內容由第三人軟體翻譯。