Digerati Technologies Inc. closed its acquisition of Synergy Telecom Inc., a provider of cloud communication services in Texas.
Shift8 Networks Inc., Digerati's wholly owned subsidiary, is combining Synergy Telecom with its Texas-based business and operations, the company said Dec. 5. The total consideration paid by the company to buy Synergy Telecom consisted of cash, restricted stock and a promissory note with revenue assurance covenants payable over 15 months.
The combined company will maintain corporate operations in San Antonio and continue its strategic focus of serving the small- to midsize-business market.
Charlie Slaughter and Ryan McDowell, Synergy's president and vice president of new business development, respectively, will join Digerati. As part of the transaction, Shift8 added Brandon Chenault to its sales team as channel and enterprise account manager.
Digerati also said it expects to complete the acquisition of T3 Communications Inc., a provider of cloud communication and broadband solutions in Southwest Florida, in about 30 days, and upon completing certain milestones related to an audit of T3 initiated before Hurricane Irma.
