iCoreConnect to divest Managed Service Provider Division, terms undisclosed

iCoreConnect announced it has entered into an agreement to divest its Managed Service Provider, or MSP, Division to The 20, LLC through an asset sale. The asset divestiture will generate capital that will be used to reduce debt and reinvest in core areas of the business. The company expects this divestiture to enhance key financial metrics such as profit margins as the MSP Division operated at lower margins compared to our SaaS offerings. The company believes that focusing on its core SaaS business will create a more streamlined, easier-to-analyze company for investors.