Aggressive acquisitions more than double North American technology e-commerce product sales and recurring revenue from consumer, commercial and government customer sales
COCONUT GROVE, Fla., March 26, 2024 /PRNewswire/ — NextPlat Corp () (“NextPlat” or the “Company”), a global e-commerce provider, today announced a significant expansion of its North American e-commerce operations. did. Acquisition of Outfitter Satellite Inc. (“Outfitter”) in an all-cash transaction. The transaction is expected to close on April 1, 2024.
For more than 20 years, Outfitter, based in Nashville, Tennessee, has provided consumer, commercial and government customers with advanced satellite-based connectivity solutions from leading brands such as Iridium, Inmarsat and Globalstar. The acquisition is expected to more than double NextPlat's existing North American technology e-commerce product sales and recurring revenue. Additionally, the transaction is expected to leverage Outfitter's leased office and warehouse space to support future domestic operations and distribution, while driving increased profitability through increased operational efficiency and resource sharing. The company is integrating the Outfitters business into its global e-commerce platform, significantly expanding its product lineup and expanding into international markets as NextPlat continues to further penetrate high-growth markets in technology and healthcare domestically and internationally. We anticipate that we will be able to begin sales.
“Outfitter is an ideal addition to our technology e-commerce portfolio, delivering immediate synergies and value to quickly and profitably scale our North American operations. , through the anticipated introduction of new technology and healthcare e-commerce services, this year we are executing on our growth plans by expanding our operations in large markets in the U.S. and around the world,” said NextPlat Corp. Chairman and Chief Executive Officer. said Charles M. Fernandez, CEO.
“We continue to see consumer and commercial demand for connectivity products and services, especially in broad regions like the U.S. where our exposure has historically been limited,” said David Phipps, President and CEO of Global Operations at NextPlat. I’m looking forward to it,” he added. You will work with the Outfitter team to rapidly leverage the capabilities of our global e-commerce platform to further support our customers while driving e-commerce growth with NextPlat's valuable new technology. ”
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About NextPlat Corp
NextPlat is a global e-commerce platform company founded to tap into multiple high-growth sectors and markets, including technology and healthcare. Through acquisitions, joint ventures and collaborations, we want to help companies sell their products online, domestically and internationally, and to help our customers and partners optimize their e-commerce presence and revenue. NextPlat, through its subsidiary Progressive Care Inc. (OTCQB: RXMD), currently operates an e-commerce communications division that provides voice, data, tracking, and IoT products and services worldwide, and pharmacy and medical data management services in the United States. is operated.
Forward-looking statements
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of our business and its products, services or solutions. “believe,” “anticipate,” “plan,” “intend,” “expect,” “plan,” “should,” “would,” and similar expressions and all statements that are not historical facts. The description is intended to: Identify forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and risks, including the launch of additional e-commerce capabilities for physical and digital assets, trading in cryptocurrencies, and our ability to grow and expand as a company. They include and may be affected by other factors, including our ability to Any of these may result in us being unable to meet or exceed any or all of our objectives or our previously reported actual results, performance (financial or operating), including those expressed or implied by such forward-looking statements. may not be able to be achieved. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained in the Company's filings with the Securities and Exchange Commission (the “SEC”), copies of which may be found at Available from the SEC website. At www.sec.gov. The Company undertakes no obligation, and hereby disclaims any obligation, to update any forward-looking statements contained in this press release.
NextPlat Corp Media and Investor Contact:
michael glickman
MWGCO Co., Ltd.
917-397-2272
mike@mwgco.net
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