Digerati Technologies Announces Consolidation of its Operating Subsidiaries and Unified Operating Brand
Digerati Technologies, Inc. (OTCQB: DTGI) announced a consolidation of its subsidiaries—T3 Communications, Nexogy, and NextLevel Internet—under a new name, Verve Cloud, Inc. This rebranding aims to reflect the company's renewed purpose and energy in delivering exceptional experiences to clients, partners, and employees. The branding transition is expected to be fully implemented by the end of the fiscal year on July 31, 2023. CEO Arthur L. Smith highlighted that the initiative is part of a long-term strategic plan focused on enhancing the corporate identity and culture.
- The consolidation of subsidiaries aims to streamline operations and enhance brand identity.
- The rebranding to Verve Cloud is expected to improve the company's market positioning.
- None.
SAN ANTONIO, Feb. 07, 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 its plan to consolidate the Company’s operating subsidiaries - T3 Communications, Inc., Nexogy, Inc., and NextLevel Internet, Inc. – into a single operating company under the new name of Verve Cloud, Inc.
The new name, “Verve,” describes the Company’s passion and enthusiasm for delivering amazing experiences to its clients, partners, and employees. It is expected that the new name and brand will be fully implemented across the Company's products and services before the end of Digerati’s fiscal year-end on July 31, 2023.
“We are pleased to introduce our new brand “Verve,” which better aligns with our long-term strategic plan while emphasizing our zeal for creating a truly exceptional organization that places a high value on relationships," said Arthur L. Smith, Chief Executive Officer of Digerati. "This re-branding is the consummation of a year-long initiative designed to create a new brand identity that embodies the Company’s renewed sense of purpose and vigor, while capturing its unique corporate culture.”
“Our new corporate identity will reinforce the “Verve” with which we pursue providing great client experiences, great partner experiences, and great employee experiences. We are excited to have a brand that expresses our passion and energy for creating a truly unique technology company with an amazing culture and strong relationships with our clients,” commented Derek Gietzen, Digerati’s President.
About Digerati Technologies, Inc.
Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS solutions for the SMB market. Through its operating subsidiaries, T3 Communications (T3com.com), Nexogy (Nexogy.com), and NextLevel Internet (nextlevelinternet.com), 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. For more information, please visit www.digerati-inc.com and follow DTGI on LinkedIn, Twitter, and Facebook.
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 such as “Our new corporate identity will reinforce the “Verve,” with which we pursue providing great client experiences, great partner experiences, and great employee experiences,” and “We are excited to have a brand that expresses our passion and energy for creating a truly unique technology company with an amazing culture and strong relationships with our clients,” 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, lack of product development and related market acceptance, the impact of competitive services and pricing, maintenance of its employee base, general economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
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A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/faac54f9-5aa5-43cd-a76a-3802ca2df694
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