M&A Deal Summary

SurgePays Acquires Torch Wireless

On April 7, 2022, SurgePays acquired communications company Torch Wireless

Acquisition Highlights
  • This is SurgePays’ 2nd transaction in the Communications sector.
  • This is SurgePays’ 2nd transaction in the United States.
  • This is SurgePays’ 1st transaction in Florida.

M&A Deal Summary
Date 2022-04-07
Target Torch Wireless
Sector Communications
Buyer(s) SurgePays
Deal Type Add-on Acquisition

Target

Torch Wireless

Jacksonville, Florida, United States
Torch Wireless is a provider of wireless broadband with the FCC’s Affordable Connectivity Program (ACP) in a cash and limited royalties deal. Torch Wireless is based in Jacksonville, Florida.

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Buyer(S) 1

Buyer

SurgePays

Bartlett, Tennessee, United States
Category Company
Founded 2006
Sector Information Technology
Employees22
Revenue 137M USD (2023)
DESCRIPTION

SurgePays is a technology and telecommunications company focused on the underbanked and underserved communities. SurgePhone Wireless provides mobile broadband to low-income consumers nationwide. SurgePays blockchain fintech platform utilizes a suite of financial and prepaid products to convert corner stores and bodegas into tech-hubs for underbanked neighborhoods. SurgePays was founded in 2006 and is based in Bartlett, Tennessee.

DEAL STATS #
Overall 2 of 3
Sector (Communications) 2 of 2
Type (Add-on Acquisition) 2 of 3
State (Florida) 1 of 1
Country (United States) 2 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 Commander

Ruston, Louisiana, United States

Commander is a provider of prepaid wireless payment and top-up services that are offered to retail customers through its customer base of approximately 500 convenience stores located primarily in Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 ClearLine Mobile

Chatsworth, California, United States

ClearLine Mobile is a cloud-based digital marketing platform for marketers and brands/merchants of any size. ClearLine is based in Chatsworth, California.

Buy -
Mergr

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