SURG - SurgePays acquires Torch Wireless in cash and limited royalties deal

SurgePays (NASDAQ:SURG) has acquired Torch Wireless, a provider of wireless broadband with the FCC’s Affordable Connectivity Program in a cash and limited royalties deal. Financial terms are not disclosed. Commenting on the acquisition, Chairman and CEO Brian Cox stated, "With the acquisition, SurgePays’ participation as a provider within the ACP program will go from 14 states to 50 states. We believe this acquisition will also provide us the ability to initiate our online enrollment effort nationwide using a broad scope which should drive subscriber acquisition costs lower."

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SurgePays acquires Torch Wireless in cash and limited royalties deal