$DTGI business combination of Digerati's operating subsidiary, T3 Communications, Inc. ("T3"
and Nexogy brings together two emerging cloud communication providers serving a broad range of customers in various industries including banking, healthcare, financial services, legal, insurance, hotels, real estate, staffing, municipalities, food services, and education. The transaction will result in a cloud communications provider serving over 24,000 business users in Florida and Texas. In addition to positioning the Company for meeting its goal of up-listing to a primary stock exchange, the business combination enhances the Company's current operational foundation and delivers on other stated strategic initiatives including:
A continued emphasis on its UCaaS/cloud communications business, which operates in a segment of the telecommunications industry that continues to experience significant growth as businesses migrate from legacy phone systems to cloud-based telephony systems.
A disciplined approach to evaluating acquisitions as it continues to target local and/or regional UCaaS/cloud telephony providers, which have excelled in serving their market.
A continued focus on the U.S. market of SMBs, of which approximately 75% or 21 million have not migrated to a UCaaS or cloud communications solution.
A continued emphasis on the Company's channel sales strategy.