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Next Group Holdings Completes Acquisition of Majority Interest in SDI NEXT Distribution LLC
Next Group Holdings Completes Acquisition of Majority Interest in SDI NEXT Distribution LLC.
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[{"type":"text","content":"\n\n\n\nNext Group Holdings Completes Acquisition of Majority Interest in SDI NEXT Distribution LLC\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:1pt; BORDER-LEFT:1pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:1pt; BORDER-RIGHT:1pt\n}\n.prntblns{\nBORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt\n}\n\n\n\n\n\n\nNext Group Holdings Completes Acquisition of Majority Interest in SDI NEXT Distribution LLC\nCompleted Acquisition Provides Immediate Distribution for Premium Third-Party Gift Cards at 30,000+ Retail Locations\nPR Newswire\nMIAMI, Dec. 7, 2017\n\n\n\nMIAMI, Dec. 7, 2017 /PRNewswire/ -- Next Group Holdings, Inc. (OTCQB: NXGH) announced today that on December 6, 2017 the Company has completed its acquisition of 51% of SDI NEXT Distribution LLC, previously announced August 24 as a Letter of Intent (Letter of Intent to Acquire Majority Interest in SDI Next Distributors LLC) with Fisk Holdings, LLC.  As Managing Member of the newly formed LLC, Next Group Holdings, Inc. will contribute a total of $500,000, to be paid per an agreed-upon schedule over a twelve-month period beginning December 2017.  The completed acquisition consists of an established distribution business for third-party gift cards, mobile top up, financial services and content, which presently includes more than 30,000 U.S. retail locations, including store locations, convenience stores, bodegas, store fronts, etc.  The Company's 51% stake in SDI NEXT also provides distribution for the Company's recently announced CUENTAS and MIO virtual mobile banking solutions (News: CUENTAS and MIO) aimed at unbanked, underbanked and financially underserved consumers, making them available to customers at the more than 30,000 retail locations SDI presently serves.\n\n\"With third party gift cards already delivered to SDI NEXT's warehouse in New York, we are now rolling out our first product line, and should have retail locations up and running with some of the top-selling third party gift cards ava...