11/01/2019 02:42:07

Spectrum Global Solutions Acquires Telecom Service Provider Telnet Solutions

LONGWOOD, Fla., Jan. 10, 2019 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc. (OTC:SGSI) (the “Company”), a single-source provider of end-to-end next-generation wireless and wireline network as well as professional services solutions to the service provider (carrier) and corporate enterprise markets, announces today the acquisition of Telnet Solutions, Inc. (“TNS”).

TNS is a Des Plaines, Illinois based company offering design, installation and maintenance of structured cabling system solutions to the enterprise market. With its operations nationwide and abroad, TNS has supported telecommunication networks for more than 16 years. Its annual revenue for 2018 was more than $6 million; producing more than $1 million of adjusted EBITDA.

Roger Ponder, CEO of Spectrum Global Solutions, stated, "We are very excited to bring this established, reputable and proven entity into our fold. Its focus on the enterprise market will drive higher margin, relationship-driven business to our Company. TNS adds new clients and capabilities, as well as provides us with a wide range of design, installation and maintenance solutions that will enhance our existing portfolio. ”   

About Spectrum Global Solutions:

Spectrum Global Solutions operates through its subsidiaries, AW Solutions and ADEX Corp. 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 public filings at www.SEC.gov or the Company’s website at https://SpectrumGlobalSolutions.com/.

Forward-Looking Statements:

The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

Investor Relations

Spectrum Global Solutions

www.SpectrumGlobalSolutions.com

561.672.7068

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