Acquisition of Secure Voice Corp. Provides Additional Recurring Revenue Stream and Nearly 200 Channel Partners.
BATAVIA, Ill., November 4, 2021 — High Wire Networks Inc. (the “Company” or “High Wire”) (OTCQB: SGSI), a global provider of technical, professional, electrical and cybersecurity services, announced today the Company has finalized its agreement to acquire the business of Secure Voice Corp. (SVC), a wholesale network services provider with facilities in the Northeast and carrying traffic across the United States.
SVC’s network carries voice over IP (VoIP) and data traffic for service providers. The purchase was accomplished through a combination of cash, assumption of debt, and stock valued between $6.5 million and $9 million.
This transaction is expected to be accretive to High Wire immediately. The acquired assets provide strong recurring revenue and a history of significant profitability with unlimited potential for scale and future add-on acquisitions. The new assets and nearly 200 channel partners will become part of High Wire’s Overwatch recurring revenue services line of business.
“We are extremely pleased to close this transaction and accelerate our growth trajectory by adding another key piece of our overall strategy to be a leading provider of technology services to our clients,” said Mark Porter, CEO of High Wire. “As we grow the portfolio and execute on our strategy, we continue to build shareholder value for the long term, while driving growth in the short term.”
About High Wire Networks
For 20 years, High Wire Networks Inc. (OTCQB: SGSI) has been a trusted partner to VARs, MSPs, distributors, integrators, manufacturers and telecom providers by enabling them to minimize overhead while extending delivery capabilities around the world. Our flexible workforce delivers vendor-agnostic technical field, professional and security services in more than 180 countries. Our services include design, installation, configuration and support for unified communications, wired and wireless networks, cabling and infrastructure, and electrical systems. Our Overwatch Managed Security Marketplace enables our partners to deliver comprehensive cybersecurity that’s easy to sell and easy to buy for an affordable subscription. We also offer a variety of on-demand, rapid-response solutions with service levels ranging from two hours to the next business day for onsite break-fix and remote technical support. With High Wire Networks, partners Get Work Done. Learn more at www.highwirenetworks.com.
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High Wire Networks Inc.
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High Wire Networks