- Spectrum has acquired a telecommunications firm focused on the design, installation and maintenance of structured cabling system solutions for the enterprise market
- Company recently entered a merger creating a consolidated entity with $130 million of enterprise value
- Spectrum is planning to uplist to the Nasdaq under ticker symbol ‘WAVE’
The volume of contracts – $5.8 million – won by Spectrum Global Solutions Inc. (OTCQB: SGSI) over the past 12 months shows that the engineering company is already benefiting as telecommunications carriers and large corporate enterprises upgrade their systems (http://nnw.fm/TzmC9). Spectrum’s good fortune is likely to continue as 5G rollouts accelerate. The company plans to boost its capabilities by merging with a provider of technology infrastructure and services (http://nnw.fm/eqX2K). The merger is expected to place Spectrum in position to offer more comprehensive solutions and profit from the projected $2.3 billion to be spent on 5G mobile infrastructure by 2021. Post consolidation, Spectrum intends to operate under the name ‘WaveTech Global’ and uplist to the Nasdaq under ticker symbol ‘WAVE’, subject to regulatory approval. The merger with WaveTech Global Inc. is expected to create a consolidated entity valued at more than $130 million.
With a name like WaveTech, the company is signaling its preparedness for the impending 5G tsunami, as telecommunications carriers hurriedly upgrade their cellular networks. For starters, fifth-generation (“5G”) cellular networks hold the promise of much faster data transmission speeds. While current 4G LTE has a peak speed of 1 GB per second, 5G promises to zip around…
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