- 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://nnw.fm/V7Jih).
“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://nnw.fm/ScS07).
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://nnw.fm/aKFU5).
“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://nnw.fm/SGSI
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