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Digerati to acquire business cloud communications provider

Digerati Technologies Inc. agreed to acquire Nexogy Inc., a provider of cloud-based communication and broadband solutions for high-growth small and medium-sized businesses.

As part of the deal, Florida-based Nexogy will be merged with Digerati's operating unit T3 Communications Inc. The combined entity is expected to serve a broad range of customers in various industries through new sales channels and an extended service offering.

An "established and traditional lending source" will provide debt financing for the transaction, according to a Sept. 25 statement. Deal completion is expected in about 90 days, subject to the U.S. Federal Communications Commission's approval.

The deal came months after Digerati completed the acquisition of a minority stake in Costa Rica-based telecommunication and internet service provider Itellum Comunicaciones Costa Rica SRL.

Digerati is a cloud services provider focused on unified communications-as-a-service solutions for businesses.