Negri Electronics Announces Acquisition by First Ascent, LLC

Online, December 30, 2013 (Newswire.com) - Negri Electronics, Inc., a leading independent retailer and supplier of high-end, unlocked wireless devices, is pleased to announce its acquisition by First Ascent, LLC, in a deal that will position the company for long-term growth and expanded consumer offerings. Negri Electronics will remain headquartered in Las Vegas.

"First Ascent's acquisition of Negri Electronics is a great opportunity for our company to grow further and faster and to continue to provide the same great products and service to our valued customers" said Ryan Negri, founder of Negri Electronics. "First Ascent has the additional resources, experience and management expertise to help our company get to the next level and reach more consumers across the world. This is an exciting growth opportunity for our company, and we look forward to the years ahead."

Negri, who founded Negri Electronics in 2006, will remain actively involved in the company as a member of the board of directors. He will also continue to assist the company's ongoing sales efforts to new and current enterprise customers and distributors around the world. As part of the acquisition, P.J. Louis, managing partner of First Ascent and a 30-year veteran of the telecommunications and technology industries, will assume the role of CEO for Negri Electronics.

"We are happy to have Negri Electronics become a part of the First Ascent family," said Louis. "We are looking forward to continuing the company's tradition of providing high-quality service, great products and competitive prices. Ryan and Philip Negri, CFO, and their team have done a great job of building a trusted and successful brand over the last seven years, and we look forward to propelling the company even further and having fun in the process."

To learn more about Negri Electronics' wide range of high-end, unlocked wireless devices and related products, visit www.negrielectronics.com.

Negri Electronics

Negri Electronics, Inc. is one of the nation's leading independent distributors and online retailers of high-end, unlocked wireless devices. Founded in 2006, Negri Electronics is a privately owned corporation headquartered in a 6,000 square foot facility in Las Vegas, with an additional administrative office in Southern California. The company currently serves customers in over 190 countries, with more than 4,000 high-end electronics devices available for purchase via the website. It is the only unlocked electronics supplier that retails independently online, offers wholesale pricing to resellers and enterprise customers and provides an expedited drop-shipping program. Negri Electronic's mission is to provide its customers with the best products and the best possible service, both before and after the sale. Website: www.negrielectronics.com

First Ascent, LLC

First Ascent, LLC is a New York -based private equity firm that is focused on acquiring and growing companies in the areas of telecommunications, information technology, data management, and media.