(DTGI) Completes Acquisition of Minority stake in Itellum

SAN ANTONIO, June 18, 2019 /PRNewswire/ — Digerati Technologies, Inc. (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 closed the acquisition of a minority ownership stake in Itellum Comunicaciones Costa Rica S.R.L (“Itellum”), a fully licensed telecommunication and Internet service provider serving the Central American market.

Under the arrangement, Digerati will expand its relationship with Itellum as a regional Partner and Value-Added Reseller (“VAR”) for its cloud communication services. Digerati’s purchase secures Itellum as an exclusive provider of Digerati’s services, and positions the Company to better serve a growing region with business and cultural ties to the U.S. In addition, Digerati will enhance its management team with Timothy Foss, Founder and CEO of Itellum, who will be taking the role of Vice President of Marketing and International Business Development for Digerati.

Arthur L. Smith, Digerati CEO, stated “This is a very strategic deal for us as we expand in Texas and Florida, the 2nd and 4th largest state economies in the U.S. with extensive business and cultural ties to Latin America. Both Itellum and Digerati will be well positioned to offer cross-border services that will set them apart from the competition. With his strong history of generating customer revenue growth with the likes of Bell-South, AT&T, and IDT Corporation, adding Mr. Foss to our management team is a huge plus for Digerati.” […]