Digerati acquires cloud communication, broadband provider SkyNet Telecom

Digerati Technologies Inc. completed its acquisition of SkyNet Telecom, a San Antonio, Texas-based provider of cloud communication and broadband services for businesses.

The acquisition will allow Digerati to grow its footprint in Texas and boost its customer base, with its operating units serving more than 3,100 business customers and about 33,000 users in Texas and Florida. The company also expects annual revenue of $18.5 million from its operating subsidiaries with the addition of SkyNet.

Digerati, which offers cloud services focused on unified communications-as-a-service platforms for small and medium-sized businesses, used its $20 million financing facility with Post Road Group LLC to fund the acquisition.