Spectrum Global Solutions Inc. (SGSI) Secures $3.3M in New 5G Prep Contracts

October 15, 2019 10:45:08
  • The 5G network evolution of wireless telecommunications is promising mobile consumers greater channel capacity and speed, as well as creating new business opportunities for network services provider Spectrum Global Solutions
  • Spectrum Global Solutions recently announced $3.3 million in new contracts for existing clients and new clients intent on securing their places in the 5G-enabled era
  • The announcement follows a similar announcement, in August, of $3.6 million in new contracts, primarily for 5G capacity upgrades, as well as a key three-year contract with a tier 1 carrier to which it has previously provided outside plant labor, construction and maintenance services

The arrival of 5G networks and their promise of far greater cellular technology connection speeds and capacity than those currently available – perhaps up to 100 times faster than current peak 4G LTE times (http://nnw.fm/r6H5c) – heralds the dawning of a new age of mobile network services to a public that’s increasingly dependent on those services and the infrastructure that supports them.

Telecommunications network builder and service provider Spectrum Global Solutions Inc. (OTCQB: SGSI) is in demand as an experienced company supporting the mobile networks end-to-end, from initial construction to the ongoing maintenance of established infrastructure, and it recently announced that it has received an additional $3.3 million in contracts for new clients, as well as existing clients previously served by the company and its subsidiaries.

The work orders primarily involve network upgrades for U.S. carriers preparing to be competitive in the 5G era and come on the heels of similar new contracts that underscore Spectrum Global Solutions’ technical prowess and reputation for delivering quality in its services.

“Our recently signed contract with a tier 1 infrastructure aggregator has already begun to generate purchase orders for professional engineering and design services for a new 5G network in a major metropolitan area,” CEO Roger Ponder stated in a news release announcing the latest work orders (http://nnw.fm/1AN6f). “In addition, we have received new purchase orders for DAS installations at a number of high-profile indoor facilities as well as work orders for tower audits, investigations and improvements with a major utility for their multi-state communications network.”

The tier 1 contract features a confidential three-year agreement with a carrier for which Spectrum has previously provided outside plant labor, construction and maintenance services, but the previous, similar contract generated more than $17.5 million in revenue, Spectrum stated (http://nnw.fm/a8Iom).

The DAS installations involve building a network of antennas for sending and receiving cellular signals on licensed frequencies to provide voice and data connectivity for end users. On August 22, Spectrum announced $3.6 million in new contracts across all its subsidiaries, much like the more recent announcement, as the company was employed to help establish 5G data networking for hospitality facilities in advance of the upcoming Super Bowl (http://nnw.fm/0kWjX).

“We continue to see strong demand for our professional services, as more and more clients realize the need for additional professional and technical staff to support ongoing projects,” Ponder added. “Our enterprise solutions vertical continues to win new projects in support of our client’s network expansions and modifications.”

Spectrum operates across the United States, Canada, Puerto Rico, Guam and the Caribbean, and opened the way for international interests when it announced the acquisition of German energy infrastructure technology company WaveTech GmbH in July (http://nnw.fm/mAeT7).

Four major carriers have introduced 5G services in limited metropolitan areas of the United States, building initially on “5G NR” (5G New Radio) software that relies on existing 4G LTE networks until the carriers finance their own standalone infrastructure for better operations (http://nnw.fm/9ENuU). The technology’s infrastructure is expected to hinge on millimeter wave antennas that are smaller and have a shorter-range reach than the microwave antennas in current use (http://nnw.fm/lY0Wd).

“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 in August.

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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