CXDO - Crexendo surges 8% on Allegiant Networks acquisition
- Crexendo ( NASDAQ: CXDO ) will acquire Allegiant Networks that will expand Crexendo's business and footprint, particularly in Kansas and Missouri.
- Allegiant is a strong regional telecom and data services company.
- The proposed transaction is a natural continuation of the M&A strategy that is focused on adding strong companies that are currently part of our ecosystem, that use the company's platform and allow to expand its reach and offerings.
- Company will pay $2M in cash and will issue issue 2,461,538 shares.
- Transaction is expected in Q4 2022.
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Crexendo surges 8% on Allegiant Networks acquisition