GAXY is on CRACK
Galaxy Next Generation Expects to Close Acquisition of Classroom Technology Solutions, Inc. by Mid-October
Press Release | 09/24/2020
Adds Industry Recognized Audio-Visual Products for the K-12 Education and Collaboration Market
TOCCOA, GA / ACCESSWIRE / September 24, 2020 / Galaxy Next Generation, Inc. (OTCQB:GAXY) ("Galaxy" or the "Company"
, a provider of interactive learning technology solutions, is pleased to announce that it has targeted mid-October to close its previously announced acquisition of Classroom Technology Solutions ("CTS"
The proposed acquisition was signed as a Letter of Intent ("LOI"
in late-May to acquire a designer, manufacturer, importer and integrator of audio-visual products, with headquarters in Jacksonville, Florida.
CTS received the 2020 Best of Jacksonville Award in the Audio-Visual Supplier category and has also been recognized as one of the "Fastest Growing Private Companies in Northeast Florida" as well as "Largest Technology Service Companies" and "Top Integrators" by the Jacksonville Business Journal. CTS has a robust portfolio of new products that will be released over the coming year. Many of these products will enhance the current and future Galaxy product offerings. CTS is a leader in the development of sophisticated technologies used in the education marketplace and other collaborative environments. Many of CTS's products qualify for the "Made in America" distinction while others are a combination of U.S. and offshore products.
Gary LeCroy, Galaxy's Chief Executive Officer, commented, "We are confident that by adding CTS' collaboration technology offerings and geographic footprint, that it will help accelerate our revenue growth. We are excited about advancing our due diligence and documentation to now target a closing over the next few weeks."
Cy Marshall, Classroom Technology Solutions' Chief Executive Officer, stated, "today that, while the pandemic, unfortunately, has slowed down the closing process of our deal with Galaxy we continue to work closely together to bring this to fruition. We are excited about the future and have been working behind the scenes on numerous new products that will catapult the Galaxy brand. Customer-focused solutions have been the driver of both Galaxy and CTS and will continue as we move forward together."