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Digerati Provides Strategic Outlook for FY2020SAN ANTONIO, Texas, Jan. 07, 2020 (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 its strategic initiatives and outlook for FY2020 ended July 31, 2020. Management continues to be focused on driving long-term sales and revenue growth, profitability, and enhancing shareholder value. The Company's plan to successfully meet its corporate goals and objectives includes:
On September 24, 2019, the Company announced that it had entered into a definitive agreement to acquire Nexogy, Inc. (“Nexogy”), a leading “white label” provider of cloud communication and broadband solutions tailored for businesses based in Miami, Florida and serving over 1,500 SMB accounts and 14,000 users. On a trailing twelve months (TTM) pro forma basis, the combination of T3 and Nexogy will generate $12.7 million in annual revenue, while the consolidation of telecom infrastructure and integration of cloud PBX platforms and back-office systems is expected to produce cost savings and EBITDA improvements. Digerati is participating in two high-growth areas driven by demand from the enterprise market. The global market for UCaaS solutions is forecasted to reach $96 billion in value by 2023, while revenue from SD-WAN (cloud WAN) service providers is growing at 70% annually and is estimated to reach $8.05 billion worldwide by 2021. Approximately 95% of Digerati’s revenue is contracted monthly recurring revenue. Arthur L. Smith, CEO of Digerati, stated, “We successfully delivered on execution of our plan during FY2019 and integrated two acquisitions during the same year that clearly validated our business model. We will not deviate from our stated business plan and strategic initiatives that have remained consistent over the past two fiscal years. We will raise the bar for growth and profitability, as we work towards accelerating our M&A strategy now that we have achieved an operational scale that allows us to derive increased EBITDA from follow-on acquisitions and improve our return on investment (ROI).” 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 The Eversull Group Twitter |