NetworkNewsBreaks – Electronic Servitor Publication Network Inc. (XESP) to Acquire Assets of PhiTech Management LLC
Electronic Servitor Publication Network (OTCQB: XESP), a digital engagement company and market disruptor, today announced that its board of directors has authorized and approved the purchase of the assets of PhiTech Management, a digital activation and engagement technology company. PhiTech provides workflow applications designed to connect people with customized content through dynamic provisioning creating relevant digital relationships. The acquisition terms include PhiTech’s Digital Engagement Engine(TM), a sophisticated tech stack built on microservices architecture that helps companies enhance the reach and lift of their content to targeted and new audiences. XESP previously accessed PhiTech technologies, processes and support through a licensing agreement, signed in October 2021, which provided XESP with rights to use PhiTech technology and services for the eSports and eGaming markets and right of first refusal for other industries for additional fees. XESP was able to assess and better quantify the impact of PhiTech technologies as part of XESP’s Managed Service offering in the digital engagement space via the licensing agreement and positive business interactions over the past 23 months. The decision to acquire the assets and intellectual property was the logical progression when it was demonstrated that owning the technology would provide XESP with greater control of deployment and development, along with the ability to enhance and expand client and shareholder value within additional vertical markets beyond eSports and eGaming.