- Most of the new contracts are for network upgrades in preparation of 5G technology rollout in the U.S.
- Spectrum Global sees strong demand for its services nationally, expects same trend in Canada
- The company has a proven track record in selling and support Fortune 1,000 accounts and has worked on programs worth over $1.5 billion
Spectrum Global Solutions Inc. (OTCQB: SGSI), a leading single-source provider of next-generation communications network infrastructure and maintenance solutions, recently added over $2.5 million in new contract awards from existing and new clients across all operating subsidiaries to its opportunity pipeline, according to a company news release (http://ibn.fm/n4ACZ). The bulk of orders received is for infrastructure projects as carriers upgrade their networks in advance of the rollout of 5G in the United States.
The rollout of 5G networks is expected to create 3 million jobs and add half a trillion dollars to the GDP, while creating numerous opportunities for tech and communication businesses, Spectrum Global Solutions CEO and President Roger Ponder said. In addition, the rollout will allow Spectrum Global to leverage its professional engineering licenses to bring its 5G network design knowledge to the marketplace, Ponder explained.
The new contracts reflect the growing demand for Spectrum Global Solutions’ professional services. “With our recent establishment of ADEX Canada, we anticipate the strong demand we see in the U.S. translating to Canada, with growing opportunities to add clients to fulfill their network service needs,” Ponder added.
Spectrum Global Solutions boasts a proven track record in selling and supporting Fortune 1,000 accounts as well as Tier 1, 2 and 3 carriers. Its service model is replicable and scalable with industry leading strategic partnerships. The company is seeing consistent revenue growth in AW Solutions and ADEX subsidiaries and has more than 100 Master Service Agreements (MSA) in place.
The company provides scalable, cost-effective, and robust solutions for utilities, communication carriers, enterprise clientele, original equipment manufacturers, and professional service companies. With an opportunity pipeline of $137 million before the latest contracts were signed, Spectrum Global Solutions has successfully executed projects both nationwide and internationally, and its experience encompasses national and international programs worth over $1.5 billion and management of more than 1,500 employees and contractors. In support of its clients, Spectrum Global Solutions professionally registered in 49 states, three U.S. territories (Puerto Rico, U.S. Virgin Islands, Guam), and six Canadian provinces (http://ibn.fm/c4oly).
The single-source provider of next-generation wireless and wireline network infrastructure and professional service solutions works directly with aggregators, utilities, PMOs, and enterprises through various subsidiaries, which allow it to provide comprehensive services covering all aspects of fiber networks and infrastructure. These subsidiaries include AW Solutions LLC; ADEX Corporation LLC; TNS Inc.; and Tropical Communications Inc.
Within the framework of international expansion efforts, Spectrum is expanding its ADEX subsidiary into Canada. This is an opportune time as Canada is racing ahead with 5G, an initiative headed by the University of British Columbia (UBC). UBC became the first 5G-smart campus in Canada but won’t remain the only one by any means (http://ibn.fm/kZzif). Spectrum is intensifying deployment of its range of telecommunications services as 5G implementation continues across Canada (http://ibn.fm/Q5rZX).
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