NEW YORK, NY / ACCESSWIRE / October 14, 2024 / Raadr, Inc. (OTC PINK:RDAR) ("Raadr" or the "Company"), is pleased to announce the completion of a reverse takeover by which the Company acquired the U.S. and Ireland operating units of Mexedia SpA (mexedia.com), an internationally renowned telecommunication and technology company headquartered in Rome, Italy, and listed on Euronext Growth Paris, in two separate acquisition transactions. This transaction marks an exciting new chapter for the Company and Mexedia Spa, as the Company is well-positioned to capitalize on Mexedia SpA's wealth of experience, financial strength and a strong acquisition strategy in the U.S. capital markets. Raadr's principal executive offices and operations are now headquartered in Miami, Florida.
Dear Shareholders,
It is with great enthusiasm that I introduce myself as the new President and Director of Raadr, Inc., following the completion of our reverse takeover transaction with the U.S. and Ireland operating units of Mexedia SpA. This letter aims to provide an initial overview of the transaction and what it means for the future of the Company, along with some important financial summaries. We understand that it is a rather complicated transaction, so we'll make sure that we properly explain it to shareholders in more details in the coming days. We are confident that our shareholders will be incredibly pleased on the structure of the transaction and the amazing opportunity to create immense shareholder value together. We invite you to review the more extensive information about the transaction included in the Company's filed with OTC Markets here.
About the Company and Mexedia SpA
I founded and have led Mexedia SpA into a leading player in the global telecommunications industry. Our headquarters are based in Rome, Italy, and we are listed on the Euronext Paris exchange. With operations extending across Europe, and, through the Company, the United States and Ireland, Mexedia SpA has a proven track record of providing cutting-edge communication solutions for over 200 of the world's most prominent mobile network operators and enterprises.
The Company's acquisition of Mexedia US and Mexedia Ireland provides us with an excellent platform to expand our global footprint by now having a firm presence in the U.S. As we move forward, our focus will remain on B2B communication services, enhanced by a robust pipeline of acquisitions that will allow us to grow both organically and through strategic transactions. However, we believe that the pivot point in the Company's growth will be to leverage our existing B2B tier-1 relationships in the telco industry to now also cross-sell higher margin telco and telco-related SaaS products via internal development and acquisitions.
Historical Financial Performance Concerning Mexedia US and Mexedia Ireland
In 2023, on a combined basis, Mexedia US and Mexedia Ireland, which are now owned by Raadr, generated over $349 million in revenues, with an EBITDA exceeding $9 million.
A Vision for Growth
We are establishing a strong platform for both organic growth and future acquisitions. We are committed to building a truly best-in-class company that will deliver long-term value for our shareholders.
We are also finalizing a comprehensive financial restructuring of Raadr's business aimed at solidifying our balance sheet, eliminating debt and positioning the company for continued sustainable profitability. We expect that progress in this regard will be achieved and announced in the coming days.
The Road Ahead
We are very optimistic about the opportunities that lie ahead for the Company, as well as Mexedia SpA. This transaction is only the beginning of a broader strategy to create a strong, sustainable business with high upside potential, benefiting both existing and future shareholders.
I encourage you to stay connected with us as we continue to grow and evolve, while providing full, real-time transparency to our shareholders. We will keep you informed with regular updates on our progress, and I sincerely thank you for your continued support.
The Raadr Team appreciates the continued support of our shareholders.
Sincerely,
Orlando Taddeo
President and Director
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Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and the company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
Contact:
Daniel Gilcher- [email protected]
SOURCE: Raadr, Inc.