- Spectrum Global Solutions, a U.S.-based end-to-end telecom network tech provider, is preparing to grow into international markets with its acquisition of German energy infrastructure technology company WaveTech GmbH
- WaveTech GmbH developed a patented technology that protects and enhances the effectiveness of energy infrastructure by stimulating the growth of desirable crystals and preventing unwanted crystals
- SGSI has positioned itself to serve clients, including recognized names such as Ericsson, Nokia, Sprint, AT&T and Verizon, as they prepare to adopt next-generation, higher-speed 5G network technology
- SGSI’s first quarter 2019 report indicated that the company achieved positive income from operations for the first time, transforming a loss of $743,491 into a gain of $14,699
- Spectrum Global expects its combination with WaveTech GmbH to produce a company valued at approximately $120 million
End-to-end U.S. network service provider Spectrum Global Solutions Inc. (OTCQB: SGSI) is preparing to evolve into a high-growth company with an international presence following the announcement of its acquisition of German energy infrastructure technology company WaveTech GmbH. The July 16 announcement states that the combined company will grant Spectrum Global Solutions access to WaveTech GmbH’s array of patents and products and will provide tangible value to the company’s shareholders (http://nnw.fm/kqM1B).
WaveTech GmbH is a company funded by private equity that has developed patented technology using electrodynamic fields to stimulate the growth of desired crystals or to prevent unwanted crystals, known as Crystal Control Technology (“CCT”), specifically as those crystals apply to the lifespan effectiveness of lead-acid batteries used in a variety of energy storage applications (http://nnw.fm/7zU2v).
“In the last year we have been transitioning from a German based company that provided a unique battery life extension product into an innovative global technology company. We have established a solid platform for commercialization of our CCT product line with leading global partners and we have a solid pipeline of additional opportunities,” WaveTech GmbH CEO and Founder Dag Valand stated in a news release. “This transaction allows us to deliver to our shareholders and the shareholders of Spectrum increased value, capabilities and expanded market presence for which to capitalize on.”
Spectrum Global CEO Roger Ponder stated that the combined companies will have an agreed-upon value of approximately $120 million and will support Spectrum’s previously announced plans for its future.
During the first quarter of 2019, Spectrum reported a significant leap in revenues, driven by its bundling of services and the low number of direct competitors in its telecom network-building market segment. The report signaled SGSI’s first quarter with positive income from operations, indicated by a year-over-year increase in revenues from $4.3 million to $11.3 million and in continuing operations income from a loss of $743,491 to a gain of $14,699 (http://nnw.fm/2jaUW).
SGSI anticipates that access to the CCT technology will enable it to make energy supply more cost-efficient, reliable and eco-friendly by protecting the energy infrastructure for telecommunications networks and thereby providing a significant reduction in the need for backup energy capital for the environmental protection and maintenance of critical energy assets.
SGSI is a holding company that operates through its subsidiaries, AW Solutions, ADEX Corp. and TNS Inc., to provide telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and the Caribbean as the industry prepares for the next-generation network advances of 5G technology. The company markets its deployment and maintenance expertise directly to carriers, aggregators, enterprise services, project management office (PMO) and original equipment manufacturer (OEM) clientele that include large-ticket names such as Ericsson, Nokia, Sprint, AT&T and Verizon, as well as smaller firms that don’t enjoy the same level of public recognition.
“We are certainly looking forward to working with WaveTech GmbH’s management team and clients,” Ponder noted.
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://nnw.fm/SGSI
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