Welcome!

@CloudExpo Authors: Yeshim Deniz, Elizabeth White, Pat Romanski, Liz McMillan, Zakia Bouachraoui

News Feed Item

Waste Deep, Inc. Enters Into a Business Combination With Digerati Technologies, Inc.

SAN ANTONIO, TX -- (Marketwire) -- 11/16/12 -- Digerati Technologies, Inc. (OTCBB: DTGI) (OTCQB: DTGI), an established and award-winning provider of cloud communication services, today announced that it has entered into a transaction in anticipation of a definitive agreement for a business combination via the acquisition of 100% of the outstanding capital stock of Waste Deep, Inc. Waste Deep, Inc. is an oil field services company with an initial focus in the Bakken Formation (the "Bakken"). The stockholders of Waste Deep, Inc. will receive newly issued shares of DTGI preferred stock, which will be convertible into DTGI Common Stock shares. As part of the business combination, new officers and directors will be appointed; Mr. John Howell as CEO and director.

The business combination will not impact Digerati's current operations and customers. The Company will continue to provide cloud communication services through its operating subsidiaries. As a result of the transaction, Digerati will be positioned to provide its cloud-based telephony services to the rapidly expanding Oil and Gas industry, a lucrative vertical market for the Company.

Arthur L. Smith, outgoing Chief Executive Officer of Digerati Technologies, Inc., stated, "The business combination with Waste Deep, Inc. is a significant milestone for Digerati that is crucial to the future success of the Company, for both our current shareholders and customers. Waste Deep, Inc.'s current operational subsidiaries have the revenue and earnings that will enhance our shareholders' value. Our current management team will be able to focus on gaining momentum in the marketplace through Digerati's existing operating subsidiaries. Current management will retain control of the existing operations within a new subsidiary named Shift8 Technologies, Inc., and will remain as such until the subsidiary's value makes financial and operational sense to operate independently."

Incoming Chairman and CEO, John Howell, continued, "This business combination provides what we believe to be an increased value for current shareholders. Oil field services organizations in the Bakken are experiencing growth rates that provide an excellent platform for acquisitions that take advantage of the arbitrage between public and private acquisition multiples. We look forward to adding other accretive acquisitions in the future."

About Digerati Technologies, Inc.

Digerati is a three-time recipient of Deloitte and Touche's Fast 500 Award for recognition as one of the 500 fastest growing technology companies in North America. Digerati Technologies, Inc. is meeting the global needs of businesses seeking simple, flexible, and cost-effective communication solutions. Digerati's cloud-based services include a fully hosted IP/PBX, VoIP transport, SIP trunking, data storage, and customized VoIP solutions for specialized applications. Services are delivered with unparalleled reliability and performance over Digerati's carrier-class global VoIP network, which has been built over the course of a decade. For more information visit www.digerati-inc.com.

About Waste Deep, Inc.

Waste Deep, Inc. is an acquisition company of oil field services companies in the United States, with an initial focus in the Bakken Formation (the "Bakken"). Initial acquisitions are Dishon Disposal, Inc. and Hurley Enterprises, Inc., demonstrating the increase of shareholder value through the acquisition of significant earnings. The Bakken is one of the most important oil fields in the world today. Initial acquisition targets are located in the heart of the Bakken and are well positioned for strong growth, now and decades into the future.

Dishon Disposal Inc. ("Dishon") is a waste disposal facility with a 25 year track record, focusing on solid and liquid wastes from oil field and drilling processes. The solid waste is land filled into specially prepared synthetic lined pits and the liquid waste is treated with industry leading water treatment technology, which can be applied across multiple industries outside of the oil field. The company is well respected in the community.

Hurley Enterprises, Inc. ("Hurley") is also an oil field support services company that functions as a drilling site service company, with 98 service and rental lines of revenue. Hurley provides everything from skid houses, telecommunication services, booster booths, Porta-Potties, generators, potable water, and mess halls in service to many of the major drilling contractors and oil majors in the Bakken. Hurley has several sole source contracts with strategic contractors in the Bakken that will provide large growth opportunity within the next three (3) years.

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 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.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact:

Jack Eversull
The Eversull Group
(972) 571-1624
(214) 469-2361 fax
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

CloudEXPO Stories
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value extensible storage infrastructure has in accelerating software development activities, improve code quality, reveal multiple deployment options through automated testing, and support continuous integration efforts. All this will be described using tools common in DevOps organizations.
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like "How is my application doing" but no idea how to get a proper answer.
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.