MINNEAPOLIS, Nov. 07, 2023 (GLOBE NEWSWIRE) — via IBN – The Board of Directors of Electronic Servitor Publication Network, Inc. (OTCQB: XESP), a digital engagement company and market disruptor, has authorized and approved the purchase of the assets of PhiTech Management, LLC, a digital activation and engagement technology company.
PhiTech provides customer and content workflow applications designed to connect people with customized content through dynamic content provisioning creating relevant digital relationships. The acquisition terms include PhiTech’s proven proprietary Digital Engagement Engine™, a sophisticated tech stack built on microservices architecture that helps companies enhance the reach and lift of their content to targeted and new audiences.
XESP previously accessed PhiTech technologies, processes and support through a licensing agreement signed in October 2021. The agreement provided XESP with rights to use PhiTech technology and services for the eSports and eGaming markets and right of first refusal for other industries for additional fees.
Through use of the licensing agreement and positive business interactions over the past 23 months, XESP was able to assess and better quantify the impact of PhiTech technologies as part of XESP’s Managed Service offering in the digital engagement space. The decision to bring the assets and intellectual property into the Company was the logical progression when it was demonstrated that owning the technology would provide XESP with greater control of technology deployment and development, along with the ability to enhance and expand client and shareholder value within additional vertical markets beyond eSports and eGaming.
XESP will begin immediate business development efforts through channel partners and consultants within multiple verticals to create rapid expansion and adoption of its managed service offering.
About Electronic Servitor Publication Network
Electronic Servitor Publication Network, Inc. (OTCQB: XESP) is a digital engagement company providing growth for B2B companies through its digital activation and engagement solutions for multiple verticals. XESP’s managed service offering is powered by a sophisticated tech stack—the Digital Engagement Engine™. XESP’s technology provides intelligent interaction management, dynamic content provisioning, and a logic-driven workflow that creates relevant digital experiences that accelerate an audience from awareness to action—driving growth for client companies.
Denny Spruce, COO