Digerati Technologies Awarded $1.78 Million in Multi-Year Contracts
SAN ANTONIO, Texas, Nov. 07, 2018 (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 that it has signed multi-year contracts totaling $1.78 million in its two most recent fiscal quarters.
The awarded contracts of its subsidiary operations, T3 Communications, Inc. (“T3”) and Synergy Telecom (“Synergy”) span various market verticals such as Government, Municipalities, Healthcare, Professional Services, Private Schools and Churches.
Through its subsidiaries, Digerati maintains over 640 business customers serving over 10,000 business users in Texas and Florida, with an average monthly revenue per customer (ARPU) of $824, of which 95% is contracted and monthly recurring.
Charlie Slaughter, Synergy’s Chief Revenue Officer, stated, “We are excited that more and more users of legacy phone systems across various market verticals are realizing the reliability, ease of deployment, and cost-saving benefits of moving their communication systems to the cloud via our platform and network. Synergy’s ‘customer comes first’ focus is ramping-up revenue nicely and proving that we are on the right path.”
Ryan McDowell, T3’s Vice President of Business Development, said, "At T3, we are committed to be the leaing UCaaS provider throughout South Florida. To continue expanding our market share, T3 has developed an ‘Agent’ and ‘Partner’ program to help develop relationships with those who influence business owners and decision makers for our services. Through these efforts and other sales channels, we are witnessing fast growth in the ratio of ‘high margin’ products being sold by T3 Communications.
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 subsidiaries Synergy Telecom (www.synergytele.com) and T3 Communications (www.T3com.com), the Company is meeting the needs of businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions, including cloud PBX, cloud mobile, Internet broadband, cloud WAN, SIP trunking, and customized VoIP services, all delivered on its global carrier-grade network and Only in the Cloud™. For more information about Digerati Technologies, please visit www.digerati-inc.com.
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.
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