- Spectrum Global Solutions maintains strong industry presence through its pursuit and strategic acquisition of choice businesses
- The company is positioned to meet the growing demand for deep fiber investments
- Spectrum Global has received $1.6 million in new contract awards, signaling an accelerated growth pattern for this year
Spectrum Global Solutions Inc. (OTCQB: SGSI), a leading single-source provider of cost-effective, scalable and robust solutions for those in the communications industry, recently announced that, over the past two weeks, it has received over $1.6 million in new contract awards to support carrier network upgrades.
In a news release (http://ibn.fm/N8dGH), CEO and President Roger Ponder stated, “These new orders show an acceleration of the growth we have predicted for this year. This growth in opportunities, when coupled with the unique solutions and technology brought to market through our pending WaveTech merger has us very excited for the future of our company.”
Upon completion of their pending merger, Spectrum Global and WaveTech Global Inc. will create a consolidated entity worth more than $130 million and plan on seeking approval for uplisting to the Nasdaq as soon as possible.
Spectrum Global owns and operates several subsidiaries, allowing it to provide comprehensive services that cover all aspects of fiber networks and infrastructure. Its subsidiary companies include AW Solutions Inc.; ADEX Corporation; Telnet Solutions Inc.; and Tropical Communications Inc. These subsidiaries enable Spectrum Global to provide comprehensive platforms and services covering all aspects of the communications industry, including development, deployment and maintenance of wireless/distributed antenna systems, wireline and fiber networks and infrastructure. With its subsidiary base diversified in many aspects of the industry, Spectrum Global has been able to create a strong industry foothold through its local, regional, national and global products, which vary in size and complexity.
The telecommunications industry is perched on the brink of tremendous growth, as it anticipates huge consumer demand for 5th generation (5G) mobile networking. This growth is predicted to be driven by increasing mobile data traffic, among other things. As more and more daily interactions are carried out on smartphones, tablets and other network-connected devices, companies like Spectrum Global are poised to take advantage of the $150 billion in fiber investment predicted to be required in the United States over the next five to seven years, as forecast by Deloitte (http://ibn.fm/b6kMQ).
For more information, visit the company’s website at www.SpectrumGlobalSolutions.com