- Spectrum Global Solutions reports third quarter 2019 financial results
- Closes acquisition of global battery technology company WaveTech GmbH
- Receives $6.9 million in new contract awards
With the recent acquisition of WaveTech GmbH, Spectrum Global Solutions Inc. (OTCQB: SGSI) has strengthened its support capabilities for telecommunications companies building the new 5G infrastructure. The acquisition has also opened the door to new markets for Spectrum’s core business, particularly in Europe, Asia and Africa, where the acquired entity maintains several key relationships. Spectrum expects to benefit from substantial economies of scale by capitalizing on the cross-selling opportunities now made possible. The company announced the acquisition and several other positive developments in its release of financial results for Q3 2019, including close to $7 million in new contracts and establishment of a Canadian subsidiary (http://nnw.fm/Ri5o1).
The WaveTech GmbH acquisition marks a new chapter in Spectrum’s remarkable success story…
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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