FAIRFIELD, Calif., June 29, 2021 (GLOBE NEWSWIRE) – via InvestorWire – Less than two weeks after the electric vehicle division of DSG Global Inc. (OTCQB: DSGT) (âDSGâ or the âCompanyâ), Imperium Motor Company, hosted the inauguration of its experience center for new electric vehicles under the Imperium brand in Fairfield, Calif., the company announces today that it has entered into a binding memorandum of understanding for the acquisition of MTG, Inc., based in Ontario, Canada.
MTG is a well-established automotive import / export company in the United States, Canada and Mexico with over 25 years of experience and an extensive commercial fleet and retail relationships in the global automotive industry.
Completion of the transaction, which is subject to several conditions, would see the integration of MTG’s customer base and multi-million dollar monthly sales into a new DSG wholesale division headed by Michael Tersigni and Johnny Cooper, all two eminent automotive specialists. Cooper built the same business model in the late 1990s, transacting over 12,000 vehicles and selling up to $ 321 million annually. His business was successfully sold to one of the largest auto auction groups in the world.
With the new division and management team that DSG has assembled, the Company expects to see dynamic results in its new business unit soon after the transaction closes.
DSG’s strategy will increase cash flow with positive revenues, but also improve the company’s EV business with the ability to deliver a unique shopping experience to Imperium customers. DSGW will be one of the only OEM EV companies to offer used vehicle inventory and unit disposal, making it the go-to full service provider for class electric vehicle products. worldwide for the transport of fleets and consumers.
Scheduled to be finalized in the third quarter of 2021, subject to the completion of due diligence and the successful listing of the company on NASDAQ, among other conditions, the acquisition will allow US-based DSG to expand immediately cross-border sales for new and latest vehicle models and will provide MTG’s current and future fleet and consumer channels with strong trade-in values ââon electric vehicles purchased from Imperium, as well as a broad base of dealerships creating sales for Imperium Motors.
Aspects of the agreement include:
- DSG Global will pay for the company in stock, after listing on the Nasdaq.
- Cooper and Tersigni will both join the DSG Global team and will also receive a percentage of the DSGW division’s net profits.
- DSGW will start the first year with an expected minimum of 100 car sales per month, reaching an estimated annual turnover of $ 33 million; the second year will see up to 200 car sales per month, reaching $ 58 million in annual sales with generous gross margins.
- Average cash round every 21 days.
- Stock option bonuses will be offered based on performance.
- The DSGW division will also bring dealers in Mexico for a large percentage of the Imperium range.
For DSG Global, this acquisition is a monumental achievement.
âWe acquire a proven entity and the talent that built it,â said Bob Silzer, CEO of DSG Global. âMTG and Cooper’s predecessor company had sales of over $ 1 billion. Our opportunities are to maintain the great business they have built and to leverage their sales and distribution channels to grow our EV sales faster. “
Silzer said the timing of DSG Global’s business model looks excellent.
âEvery business proposition comes down to when, how and how much,â he said. “Good, when is now, as we have SUVs, trucks, sedans and other vehicles either in port or coming. How? ‘Or’ What we put the product on the market is explained by this acquisition and the resellers with whom we will be working. Our two manufacturing partners have no problem obtaining critical computer chips, so no delays in delivery, as several manufacturers have known. And the how much might have been a relevant question if we hadn’t bought MTG into a wholesale distribution network. “
âBecause of this opportunity, we are really left with the overarching question of how much the Imperium brands will cost consumers. The answer is, surprisingly less than many other electric vehicles. For example, the ET5 SUV is extremely well equipped with around $ 40,000 less incentives and tax credits available in most cases, âSilzer concluded.
MTG’s successful management team, Michael Tersigni and Johnny Cooper, will remain with the soon-to-be merged companies. They join a trio of high performing industry veterans who have also recently joined DSG Global. The team includes:
- Rick Curtis, former president of Mullen Technologies, who has extensive experience in electric vehicles and the automotive industry and now runs Imperium Motor Company as CEO.
- Bill Rex, who previously headed the Rexhall Industries and BYD Bus and Battery companies, is a well-known leader in the RV and electric bus industry and now heads the Imperium Commercial and Bus division for DSG Global.
- Christian Dubois, whose experience spans BMW Canada, Mercedes Benz Canada and The Dilawri Group of Companies, was recently appointed President of Imperium Motors Canada
DSG Global’s other division, Vantage Tag Systems (VTS), recently announced that its sales are growing steadily, with 15 golf courses recently choosing VTS to provide fleet management solutions for their electric golf cart fleets. The combined contracts add nearly $ 1 million in revenue for the installation and maintenance of the systems.
About DSG Global
DSG Global is an emerging global technology company with a range of interconnected businesses in some of the fastest growing market sectors. Rooted in the golf industry, where it specializes in fleet management with patented analytics, mobile touchscreen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the company is rapidly evolving with road-ready electric vehicles for sale in the first quarter of 2021 through its subsidiary Imperium Motor Company.
About Imperium Motor Corp.
Imperium Motor Corp. (IMC) is an electric vehicle sales, manufacturing and marketing company that offers a wide variety of affordable vehicles equipped for the North American market, with an emphasis on exceptional design, green mindset, performance and functionality. The vehicles will include high-speed, medium-speed and low-speed electric vehicles, including cars, trucks, SUVs, vans, buses and scooters. For more information on Imperium Motors’ product lines, please visit www.imperiummotorcompany.com.
About Vantage Label Systems
Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other avenues that enable remote management of the fleet of golf carts, turf equipment and utility vehicles. Its customers use VTS’s unique technology to dramatically reduce operating costs, improve the efficiency and profitability of their fleet operations, increase safety and improve customer satisfaction. VTS has become a leader in the fleet management category in the golf industry, with its technology installed in vehicles around the world. VTS is now embarking on several new revenue streams through programmatic advertising, licensing and distribution, as well as expansion into commercial fleet management, PACER golf carts and agricultural applications. Additional information is available at http://vantage-tag.com/.
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