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PDX Partners, Inc. Signs LOI to Acquire Equity Stake in Internet Service Provider
PDX Partners, Inc. Signs LOI to Acquire Equity Stake in Internet Service Provider.
About this update from Pdx Partners Inc
[{"type":"text","content":"\n\n PORTLAND, Ore., March 19, 2018 (GLOBE NEWSWIRE) -- PDX Partners, Inc. (OTC:PDXP) (“the Company”), a Telecommunications company, announces that it has signed a Letter of Intent to acquire a 20% equity stake in NzingaNet, respectively.\n PDX Partners has agreed to pay $10,360,000 for a 20% Equity stake in NzingaNet along with First Financing Rights, non-exclusive global marketing rights, and a seat on the board of Nzinganet as additional considerations.  The agreement by both Parties shall be made simultaneous with or as soon as practicable after Closing; Nzinganet is an innovative new internet service provider offering a suite of additional services to customers on the East Coast. The ISP market is aggressively growing as internet access increasingly becomes a basic necessity of modern life, jumping to $104 billion in industry revenue last year. NzingaNet is positioned to introduce competition into this gigantic industry by offering an alternative to customers exasperated with their current cable and wireless operators.  The Company is able to build lasting relationships with clients by understanding their goals and working closely with them, as well as engaging with customers daily to understand the services that will best suit each client. NzingaNet will continue to expand its services offering with its goal of empowering the masses to do more for less.  Last year, 2017, marked the commencement of NzingaNet’s operations. In 2017, the Company successfully:  Secured a nationwide 3.65Ghz license  Secured over 30k of LTE TDD equipment to build the customer base  Built or converted three sites in the Philadelphia Metro area to superior LTE TDD service  Secured roof space at four additional locations around the city of Philadelphia, which will provide the Company with the opportunity to serve over 1.5 million subscribers   Negotiated with the Philadelphia housing Authority on a framework agreement to move forward with leased roof space and service for their tenants Building a customer base through the ISP business will open up a pipeline of new clients for the Company’s other services, such as: WIRELESS INTERNET NzingaNet’s wireless services are provided in three tiers. From 6Mbps, 10Mbps, to 20Mbps and higher, NzingaNet has the ideal solution for any nee...