Leading telecommunications engineering and infrastructure services provider Spectrum Global Solutions (OTCQB: SGSI) today announced its entry into a definitive agreement of acquisition with WaveTech GmbH (“WT GmbH”). German-based WT GmbH is a technology company with a platform that delivers efficient, dependable energy infrastructure for telecommunication networks, data centers and Fortune 1000 clients. Per the update, the agreement enables SGSI to combine directly with WT GmbH and utilize its suite of patented products including its patented approach, Crystal Control Technology, which lessens backup energy expenses and related operating costs to protect and operate critical energy assets. “We always believed that the combination with WT GmbH presented a unique growth opportunity for the company, an expansion into new international markets and an opportunity to provide tangible value to our shareholders. This new acquisition agreement does just that with what we believe is a better valuation for our existing assets. We are certainly looking forward to working with WT GmbH’s management team and clients,” Spectrum Global Solutions CEO Roger Ponder stated in the news release. “With WT GmbH’s business, including its extensive array of patents and products, the consolidated entity will have an agreed upon value of approximately $120 million. The acquisition shall be effected through a sale and exchange of shares plus cash provided to Spectrum.”
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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 the Caribbean. For more information, visit the company’s website at www.SpectrumGlobalSolutions.com.
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