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.
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:
NzingaNet’s wireless services are provided in three tiers. From 6Mbps, 10Mbps, to 20Mbps and higher, NzingaNet has the ideal solution for any need. Wireless internet service will be available to both residential and commercial customers, with no long-term contract or commitment. The Company will strictly be installing 5G capable equipment which can offer the fastest internet speeds for customers and will remain viable for years to come – sharply reducing replacement costs.
NzingaNet also anticipates working with Multi-Dwelling Units (MDUs) to offer wireless services. NzingaNet would pay rent to the MDU for allowing NzingaNet to house its equipment on the roof of the MDU. Once the equipment has been installed, NzingaNet would then offer the tenants of the MDU wireless at wholesale pricing, while remitting 10% of the wholesale price to the owner of the MDU.
DESKTOPS AS A SERVICE (DAAS)
NzingaNet’s Desktop virtualization is a powerful software technology that separates the desktop environment and associated application software from the physical client device that is used to access it. By offering this service NzingaNet is able to provide the customer with the same applications and feel as a desktop PC, at a fraction of the cost, and implement the service in hours, not days or weeks as it normally takes to order and have a desktop machine configured and delivered. Desktop Virtualization can be used in conjunction with applications such as Windows and custom software which provides a comprehensive desktop environment management system. In this mode, all the components of the desktop are virtualized, which allows for a highly flexible and much more secure desktop delivery model.
SOFTWARE AS A SERVICE (SAAS)
Software as a Service (SaaS) is a software distribution model deployed by NzingaNet in which applications are hosted by NzingaNet and made available to customers over a network, typically the Internet.
Benefits of the SaaS model for our customers include:
- Easier administration
- Automatic updates and patch management
- Compatibility: All users will have the same version of software.
- Easier collaboration, for the same reason
- Global accessibility
PLATFORM AS A SERVICE (PAAS)
NzingaNet’s Platform as a Service (PaaS) offering is a way that customers can rent hardware, operating systems, storage, and network capacity over the Internet. The service delivery model allows the customer to rent virtualized servers and associated services for running existing applications or developing and testing new ones. With PaaS, operating system features can be changed and upgraded frequently. Geographically distributed development teams can work together on software development projects. Services can be obtained from diverse sources that cross international boundaries.
DISASTER RECOVERY AS A SERVICE (DRAAS)
The architecture of NzingaNet’s CloudPlatform is designed to allow the Company to achieve the highest levels of cloud reliability and performance, in that there is no single point of failure. Periodic maintenance of the management server can be performed without affecting the virtual machines running the application, providing 99.999% uptime. This service can be exceedingly valuable to business clients, protecting them from some of the adverse effects of power outages, natural disasters, server room challenges, and human error.
NETWORK AS A SERVICE (NAAS)
NzingaNet has the ability to offer a wide variety of network services — such as advanced firewalls, quality-ofservice (QoS) controls, VPNs and WAN optimization — on demand, giving the customer a valuable means to meet complex enterprise requirements. CloudPlatform enables customers to order, deploy, and manage NaaS offerings by orchestrating and managing a wide variety of software- and hardware-based network services, and, by integrating NaaS usage statistics into the platform’s billing and reporting capabilities, customers can see usage and performance.
INFRASTRUCTURE AS A SERVICE (IAAS)
Infrastructure as a Service is a provision model in which an organization outsources the equipment used to support operations, including storage, hardware, servers and networking components. The service provider, NzingaNet, owns the equipment and is responsible for housing, running and maintaining it. The client will typically pay on a per-use basis.
Said PDX CEO Patrick Johnson: “Competing against established internet service providers has become increasingly feasible as powerful new equipment comes onto the market which is challenging the aging installations of legacy cable companies. NzingaNet has set itself apart from many of its competitors by securing a national spectrum license that allows the Company to offer internet service to customers anywhere in the country, except within a narrowly defined radius around existing stations. We look forward to our great prospects for national and global expansion in the future.”
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’s leadership team is highly experienced in this field and has already laid the groundwork for a profitable and enduring enterprise
For more information go to: http://nzinganet.net/
About PDX Partners Inc.
PDX Partners, Inc. (OTC PINK:PDXP) is a Telecom company dedicated to creating revenue and shareholder value by marketing Telecom products and acquiring other long term growth assets. The company was founded in 1997.
For more information go to: www.pdxpartners.net
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 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 as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its 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, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information please contact:
PDX Partners, Inc.
Patrick J. Johnson
Chief Executive Officer
(971) 258-8003 (Investor Relations)
Source:PDX Partners, Inc