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.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ICCT:
- iCoreConnect appoints Yvonne Hyland to board of directors
- iCoreConnect expands partnership with Mississippi Dental Association
- iCoreConnect, DSO MarketWatch enter Channel Partner agreement
- iCoreConnect Warned by Nasdaq Over Board Composition
- iCoreConnect to resell iCoreRx cloud eprescribing solution by iCoreConnect