Spectrum Global Solutions, Inc. (OTCPK:SGSI.F) entered into a definitive agreement to acquire ADEX Corporation and ADEX Puerto Rico LLC from InterCloud Systems, Inc. (OTCPK:ICLD) for $5 million on February 6, 2018. As part of consideration, InterCloud will receive $5 million in a combination of cash and seller's note. The transaction is subject to completion of financing by the buyer and other standard closing conditions.

For the year ended 2017, the annual revenue and adjusted EBITDA for ADEX Corporation and ADEX Puerto Rico is $20 million and $1 million respectively.