NEW YORK, May 1, 2019 /PRNewswire/ -- The evolution of cellular devices has rapidly progressed throughout the past few decades. The first cellular phones only allowed users to call one another for a very limited time before the battery died out. Now, however, with the introduction of the latest smartphones, consumers can perform diverse tasks, in addition to calling, simply through their device. Even daily tasks such as banking, shopping, and navigating can be done through a mobile device. But, without the telecommunications industry, these advancements would still be just a dream and consumers would not be able to enjoy the daily indulgence of their smart devices. Telecom providers supply consumers with the latest technology, allowing them to use their cellular devices at a faster speed than before. However, as telecom companies continue to launch new and advanced technologies, consumer trends also tend to shift. For instance, immediately after the release of 4G technology in 2009, consumers were satisfied with the speed and security of it. Shortly after, however, they began to demand faster and stronger connectivity, prompting telecom companies to begin developing the next innovation. Now, the rising consumer demand, as well as the increasing competition within the telecom market space, is expected to further propel the industry. According to data compiled by The Business Research Company, the global telecommunications market was valued at USD 2.69 Trillion in 2018. By 2022, the market is expected to reach USD 3.45 Billion while accelerating at a CAGR of 6.4%. TPT Global Tech Inc. (OTC: TPTW), Vodafone Group Plc (NASDAQ: VOD), América Móvil, S.A.B. de C.V. (NYSE: AMX), Telefónica, S.A. (NYSE: TEF), China Unicom (Hong Kong) Limited (NYSE: CHU)
Consumers are currently using 4G LTE technology, however, telecom providers are in the midst of developing 5G technology. At the time of 4G LTE's release, the technology was able to handle download speeds between 5 and 12 megabits per second, with peak download speeds achieving as high as 50 megabits per second. Recent test pilot runs have reported that 5G networks were able to achieve speeds of up to 2 gigabits per second, which is significantly faster than its predecessor. However, 5G technology is still being tested and isn't expected to be commercially available until 2020. Regardless, many companies have already begun to establish 5G zones around the world within towns, cities, and even sports stadiums. "Even before the rollout of the 5G, there is work to be done. Consumers continue to display an insatiable appetite for mobile data. With more data-heavy applications securing their place in consumers' daily lives, we only expect this trend to continue. Consumers demand higher data limits, and they opt in for unlimited data plans," said Mic Locker, managing director in Deloitte Consulting LLP's Technology, Media & Telecommunications (TMT) industry practice, "Once available, 5G is expected to create significant business opportunities for telecom companies, helping them gain revenue in the fixed broadband market and business-to-business (B2B) opportunities such as smart cities and Internet of Things (IoT). It will also provide the ideal environment for telecommunications providers to employ "network slicing" to customize their offerings. In the context of 5G, this will enable sharing of a given physical network to run IoT, mobile broadband, and very low-latency applications—including many connected-car and connected-home functions that have the potential to create entirely new revenue sources for providers in 2019."
TPT Global Tech Inc. (OTCQB: TPTW) earlier last month announced that it had, "recently initiated the acquisition of the assets of SpeedConnect LLC ("SpeedConnect") for $2 million and the assumption of certain liabilities. The Asset Purchase Agreement required a deposit of $500,000, paid as part of entering into the Asset Purchase Agreement. Additionally, $500,000 is to be paid at closing after normal due diligence, audit and other conditions are met, anticipated to be in April of 2019. In addition, at the time of closing, the Company will enter into a Promissory Note to pay SpeedConnect in two equal installments of $500,000 plus applicable interest at 10% per annum each within 30 and 60 days, respectively, of closing. The closing date cannot be beyond June 30, 2019. In addition, on or before 90 days from the closing, the Company is to contribute $1 million in cash to the assets as working capital.
SpeedConnect was founded in 2002 by its CEO John Arthur Ogren and is in its 17th year of operations as a national, predominantly rural, wireless telecommunications residential and commercial Internet Service Provider (ISP), SpeedConnect.com. SpeedConnect's primary business model is subscription based, monthly reoccurring revenues, from wireless delivered, high-speed Internet connections utilizing its company built and owned national network. SpeedConnect also resells third-party satellite Internet, DSL Internet, IP telephony and DISH TV products. Mr. Ogren will stay on as the CEO of SpeedConnect for TPTG for the next two years.
SpeedConnect is a privately-held Broadband Wireless Access (BWA) provider. Today, SpeedConnect is one of the nation's largest rural wireless broadband Internet providers which serves over 20,000 residential and commercial wireless broadband Internet customers in Arizona, Idaho, Illinois, Iowa, Michigan, Montana, Nebraska, South Dakota and Texas.
The synergies with TPTG are impressive. The SpeedConnect asset acquisition provides a complete back office, with a billings and collections machine for all products the new combined enterprise may choose to sell, service, warehouse, or deliver. With a TPTG cash infusion, and SpeedConnect's 5G deployments across 10 Midwestern States, the new combined enterprise is perfectly positioned to grow its national footprint to 250,000 customers, and hold first place as the nation's best choice for bridging the digital divide to heartland rural America.
"The potential acquisition of the assets of Speed Connect positions the Company to expand our telecommunication operations in Phoenix, Arizona and may better position the Company to launch 5G Technology to rural America to deliver TV, Internet, Media Content and Phone services across 10 Midwestern states utilizing our proprietary telecom infrastructure and mobile media delivery broadcast platform," said Stephen Thomas, CEO, TPTG.
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Specifically, statements about the Company's plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings and pursuit of new markets are forward looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
About TPT Global Tech: TPT Global Tech Inc. (OTC: TPTW) based in San Diego, California, is a Technology/Telecommunications Media Content Hub for Domestic and International syndication and also provides Technology solutions to businesses domestically and worldwide. TPT Global offers Software as a Service (SaaS), Technology Platform as a Service (PAAS), Cloud-based Unified Communication as a Service (UCaaS) and carrier-grade performance and support for businesses over its private IP MPLS fiber and wireless network in the United States. TPT's cloud-based UCaaS services allow businesses of any size to enjoy all the latest voice, data, media and collaboration features in today's global technology markets. TPT's also operates as a Master Distributor for Nationwide Mobile Virtual Network Operators (MVNO) and Independent Sales Organization (ISO) as a Master Distributor for Pre-Paid Cellphone services, Mobile phones, Cellphone Accessories and Global Roaming Cellphones."
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Vodafone Group Plc (NASDAQ: VOD) is one of the world's largest telecommunications companies and provides a range of services including voice, messaging, data and fixed communications. Vodafone Limited and Telefónica UK Limited ("O2") recently entered into non-binding heads of terms intended to strengthen their existing network sharing partnership. Vodafone and O2 plan to extend the existing network sharing partnership term and include 5G at joint radio network sites. This would enable both Vodafone and O2 to deploy 5G faster, to offer 5G services to more customers over a wider geographic area, and to do so at a lower cost. In addition, both parties will look to extend greater network autonomy in a number of larger cities by deploying their own separate radio equipment on approximately 2,500 sites, which represents around 15% of sites outside London. This will give them even greater flexibility to meet the needs of their customers. The companies also intend to upgrade their transmission networks with higher capacity optical fiber cables. This would enable customers to benefit from 5G's new features, such as low latency, as well as provide both companies with greater economies of scale and an improved choice of infrastructure partners. Vodafone and O2 are also exploring options around their future transmission operating model which could drive synergies in the investment and operation of their end-to-end networks. Nick Jeffery, Chief Executive Officer, Vodafone UK, said: "We believe that these plans will generate significant benefits for our business and our customers as we move into the digital era of connected devices, appliances and systems on a mass scale. Customers will benefit from the best 5G experience available and we will deliver even faster speeds by using our spectrum holding more effectively."
América Móvil, S.A.B. de C.V. (NYSE: AMX) is the leading provider of integrated telecommunications services in Latin America. América Móvil, S.A.B. de C.V. recently announced that it has acquired from Telefónica S.A. and certain of its affiliates, 100% of Telefónica Móviles Guatemala, S.A., and has entered into an agreement to acquire 99.3% of Telefónica Móviles El Salvador, S.A. de C.V. The Telefónica Guatemala acquisition has been completed on this date. The completion of the acquisition of Telefónica El Salvador is subject to certain customary closing conditions, including regulatory approval. The purchase price paid for Telefónica Guatemala was USD 333 Million. The agreed purchase price for Telefónica El Salvador is USD 315 Million. The acquired companies provide mobile and fixed telecommunications services, including voice, data and Pay TV in El Salvador and Guatemala, respectively. With this transaction, AMX consolidates its position as one of the leading telecommunication service providers in Central America, strengthens its position in both countries to continue providing integrated telecom services and positions itself to provide next generation services, including 5G.
Telefónica, S.A. (NYSE: TEF) is a company that is aware of the new challenges posed by today's society. The streets of L'Hospitalet de Llobregat will be the scenario of the connected car and 5G assisted driving use cases in a real environment thanks to the joint work of Telefónica, SEAT, Mobile World Capital Barcelona, Ficosa, ETRA e i2CAT, and with the collaboration of CTTC and UPC. Ericsson and Qualcomm Technologies, Inc. -a subsidiary of Qualcomm Incorporated-, also participated, by equipping both vehicles and their surrounding elements with technology that enables them to exchange information with the main objective of increasing road safety. The project is framed within the 5G Barcelona initiative, aimed at consolidating the city of Barcelona as the reference 5G hub in Europe. The two technologies bringing these use cases to life are C-V2X (Cellular Vehicle to Everything) and C-V2X technology offers assisted driving by allowing the vehicle to communicate with all the elements around it (cars, traffic lights, traffic signals, pedestrians, cyclists, motorcycles...). In addition, for the cars to be able to "talk" to the city, latency needs to be minimal and, therefore, it is necessary to deploy 5G capabilities into the current network, specifically the Edge Computing server, a large distributed brain, hosting content and applications very close to where the user is consuming them.
China Unicom (Hong Kong) Limited (NYSE: CHU) is committed to being a creator of smart living trusted by customers, connecting the world to innovate and share a good smart living, improving the quality of products and services continuously to fulfill customer needs.In the run-up to the forthcoming 5G, China Unicom's Internet of Vehicle (IoV) subsidiary, China Unicom Smart Connection Technology Company Limited recently announced that it successfully introduced nine strategic investors, including the largest automobile OEMs in China such as FAW, Dongfeng, GAC, etc. This means that Smart Connection Technology will secure better industry resources and competitive advantages. Following the introduction of strategic investors, China Unicom's shareholding in Smart Connection Technology will reduce from 100% to 68.88%. The nine strategic investors introduced encompass leading enterprises who possess strong strategic synergy with Smart Connection Technology in fields such as automobile manufacturing, industrial Internet, technology and resources, and capital investment, etc. Established in 2015, Smart Connection Technology is a subsidiary of China Unicom focused on specialized services in the IoV field. It provides long-term services to major automobile OEMs and related customers in the ecosystem both domestically and internationally. With over 70% share in the IoV market, it maintains a strong reputation in the industry. With the successful introduction of strategic investors along the supply chain, Smart Connection Technology brought together industry resources for its system and mechanism innovation and rapid growth in the future. Smart Connection Technology has also been named in the "Double Hundred Action" list of the SASAC of the State Council. Next, Smart Connection Technology will seize the development opportunities brought by 5G, strengthen its fundamental capabilities in smart connectivity, and build an open and cooperative ecology. It will provide better-connected vehicle and service operation solutions led by "Smart Driving," and become a service pioneer in the 5G smart automobile industry.
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