Leading telecommunications engineering and infrastructure services provider Spectrum Global Solutions (OTCQB: SGSI) this morning announced its entry into a definitive agreement of merger with WaveTech Global Inc., a global next-generation technology platform company. WaveTech specializes in mobile network microservices, critical power management and efficiency, asset lifecycle extension, data-analytics, intellectual property development and implementation services. According to the update, the consolidated merged entity shall have an enterprise value of $130 million upon completion of the merger, effected through a sale and exchange of shares and cash, and acquisition of WaveTech and all of its assets and subsidiaries. In accordance with the transaction, WaveTech Global, Inc will become the majority controlling shareholder of Spectrum, and (subject to filing and approval by NASDAQ and FINRA), Spectrum intends to file for a name change to WaveTech Global, Inc and an application for up-listing to the NASDAQ exchange under the ticker “WAVE”. “We believe the combination with WaveTech presents a unique growth opportunity for the Company and provides tremendous value for our shareholders,” Spectrum Global Solutions CEO Roger Ponder stated in the news release.
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About Spectrum Global Solutions, Inc.
Spectrum Global Solutions operates through its subsidiaries, AW Solutions, ADEX Corp and TNS. The company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. For more information about the company and its technologies, visit the company’s website at www.SpectrumGlobalSolutions.com.
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