- The
telecommunications industry is preparing for its next evolutionary stage
as carriers and their customers begin anticipating 5G data speed
enhancements for mobile technology
- Spectrum
Global Solutions is an end-to-end provider of telecommunications
infrastructure solutions helping to position businesses for the 5G network
revolution
- The
company recently announced that it has renewed a key three-year contract
with a tier 1 carrier for outside plant labor, construction and
maintenance services
- Spectrum
Global also noted in August that it had been awarded $3.6 million in new
contracts with new and existing clients, dealing primarily with 5G network
establishment
Telecommunications network service provider Spectrum
Global Solutions Inc. (OTCQB: SGSI) announced recently that it has
succeeded in renewing a key contract with a U.S.-based tier 1 carrier to
which it has previously provided outside plant labor, construction and
maintenance services.
The three-year contract with the large-scale
telecommunications firm is confidential under the terms of the agreement and
based on demand, but Spectrum Global’s announcement notes that a comparable
contract with the same company during the prior three-year period generated
more than $17.5 million in revenue (http://ibn.fm/dJnz3).
“We believe that these types of contracts will grow to
become particularly valuable as the vast investments that carriers are making
into their communications infrastructure come to fruition,” CEO Roger Ponder
stated in a news release. “It is estimated that the infrastructure cost for 5G
alone will exceed $1 trillion, creating an immense opportunity for us to enable
carriers to provide improved data connectivity to increasingly data-hungry
consumers nationwide.”
5G network rollouts began earlier this year, promising an
exponential increase in data transmission speed for the customers of mobile
carriers. The technology will be based initially on ‘5G NR’ (5G New Radio)
software that relies on existing 4G LTE networks until the carriers evolve with
an entirely new infrastructure that will support a more efficient
operation (http://ibn.fm/Xakkr).
Spectrum Global is a holding company that serves the needs
of the communications technology industry from end to end, with engineering and
infrastructure services across the United States, Canada, Puerto Rico, Guam and
the Caribbean delivered through its subsidiaries, AW Solutions, ADEX Corp. and
TNS Inc.
ADEX won the most recent contract renewal, and Ponder notes
that the agreement creates “exciting ancillary opportunities for (SGSI) to win
new business for (its) AW Solutions and TNS subsidiaries as well.”
In August, SGSI announced that it had been awarded $3.6
million in new contracts across all of its subsidiaries and that the majority
of the contracts involve setting up 5G network infrastructure for new and
previously existing clients (http://ibn.fm/YfGC7).
“As we continue to expand our service offering to support
the rollout of 5G, which requires a large number of small cell deployments
rather than a fewer number of larger towers as was traditionally seen, our
opportunity pipeline continues to grow at a rapid rate,” Ponder stated at the
time. “I look forward to continued operational execution on this front and
long-term shareholder value creation.”
For more information, visit the company’s website at www.SpectrumGlobalSolutions.com
NOTE TO INVESTORS: The latest news and updates
relating to SGSI are available in the company’s newsroom at http://ibn.fm/SGSI
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Editor@QualityStocks.com
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