- Company enters into MOU to acquire auto import/export company
- Opportunities are to maintain excellence, leverage channels to grow sales
- DSG anticipates seeing impressive results soon after closing, plans to increase cash flow with positive revenue
In a move that provides immediate sales opportunities, DSG Global (OTCQB: DSGT) announced that it has entered into a binding memorandum of understanding to acquire MTG Inc., an established automotive import/export company based in Ontario (https://nnw.fm/ZZjnY). MTG operates in Canada, the United States and Mexico and has extensive commercial fleet and retail connections throughout the global automotive industry.
“We are acquiring a proven entity and the talent that built it,” stated DSG Global CEO Bob Silzer. “MTG and [Johnny] Cooper’s previous company have completed well over a billion dollars in sales. The opportunities before us are to maintain the excellent company they have built and leverage their sales and distribution channels for growing our electric vehicle sales more expediently.”
According to the company, the transaction should be complete sometime in third quarter 2021, subject to several conditions. Once the acquisition is finalized, MTG’s customer base and multimillion-dollar monthly sales will be integrated into a new division — DSG Wholesale Division — led by renowned automotive specialists Michael Tersigni and Johnny Cooper. Cooper has invaluable experience with this business model, having created a company in the late 1990s that completed transactions for more than 12,000 vehicles totaling up to $321 million in sales annually; that company was sold to one of the largest auto auction groups in the world.
The company noted that the MTG acquisition allows it to immediately expand cross-border sales for both new and late-model vehicles; the strategic move will afford MTG’s current and future fleet and consumer channels strong trade-in values on electric vehicles purchased from Imperium, along with a large dealer base creating sales for Imperium Motors.
DSG anticipates the division will see impressive results soon after closing and plans to increase cash flow with positive revenue as well as enhance its own EV business by offering a unique buying experience to Imperium clients. DSGW will be one of the only OEM EV companies offering to take used inventory and dispose of the units, making it the go-to full-service provider of world-class EV products for fleet and consumer transportation.
The strategic timing of this move is ideal for the company. “Every business proposition boils down to when, how and how much,” said Silzer. “Well, when is now, in that we have SUVs, trucks, sedans and other vehicles either in port or arriving soon. How we are getting product to market is explained via this acquisition and the dealers with whom we will work. Both our manufacturing partners have no issues obtaining critical computer chips, therefore no delivery delays, as several manufacturers have experienced. And the how much could have been a relevant question if we had not purchased MTG to be a wholesale distribution network.
“Because of this opportunity, we are really only left with the all-important question of how much the Imperium brands will cost consumers,” Silzer concluded. “The answer is, surprisingly less than many other EVs. For example, the ET5 SUV comes extremely well-equipped at around $40,000 less available incentives and tax credits in most cases.”
DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest-growing market sectors. With roots in the golf industry, in which it specializes in fleet management with patented analytics, mobile touch-screen engagement and electric golf carts under the Vantage Tag Systems (“VTS”) brand, the company is moving quickly with road-ready electric vehicles for sale in the third quarter of 2021 through its Imperium Motor Company subsidiary.
For more information, visit the company’s website www.DSGTGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to DSGT are available in the company’s newsroom at https://nnw.fm/DSGT
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork.
