NEW YORK, April 24, 2019 /PRNewswire/ -- Telecommunication providers are facing overwhelming pressure due to the ever changing consumer demands. Providers are now tasked with meeting the demand for stronger and safer communication networks, after the landmark achievement of having nearly 98% of the world covered under a telecommunications network in 2017. The umbrella network allows users to communicate with one another through a transmission of signals, or messages, which are supported via electromagnetic systems. The widespread adoption of mobile devices has also largely contributed to the rapid growth of the telecommunication industry. GSMA Intelligence found that more than five billion individuals worldwide have a mobile device. Generally, older generation mobile models are used solely for communication purposes such as messaging or calling. However, the development of the mobile device industry has introduced products such as smartphones and tablets, which allow users to the internet and surf the web or stream videos. The expansion of the telecommunications industry has also even allowed consumers to connect to the internet faster than ever before and watch videos at a higher quality without buffering issues. While the technology is still advancing, consumer demands are also multiplying every year, causing the telecommunications industry to accelerate even further. According to data compiled by Plunkett Research, Ltd., U.S.'s telecommunications spending was approximately USD 1.6 Trillion in 2017 and is expected to reach USD 1.8 Trillion by 2020. TPT Global Tech Inc. (OTC: TPTW), Sprint Corporation (NYSE: S), Nokia Corporation (NYSE: NOK), KT Corporation (NYSE: KT), Inseego Corp. (NASDAQ: INSG)
The mobile communications industry has rapidly evolved since it took shape. For instance, the industry started off with the rise of 2G technology back in the 1990s. 2G technology allowed users to transfer or receive information from one another but at a very slow rate of 9.6 kb/s. Almost a decade later, 3G technology emerged and was roughly four times faster than its predecessor. Then, consumers began to use 4G technology at the start of 2010. 4G was significantly faster than 3G and offered upwards of 100 mb/s, while now, consumers use 4G LTE technology, which is ten times faster than the original 4G offering from 2010. Telecommunications have significantly changed since the introduction of 2G technology as telecom providers have now been developing 5G technology, with GSMA suggesting that 5G technology will have speeds upwards of 10,000 mb/s. However, as 5G technology continues to develop, the speed can increase even further. "The level of future uncertainty is increasing around the telecommunications industry – driven by rapid technological, regulatory, and customer demand changes. Still, the opportunities are greater today than ever before for industry players that embrace disruption, reimagine their network services capabilities, and drive growth," said Innosight Managing Director Patrick Viguerie, Cowan Consulting Chief Executive Officer Keith Cowan, and Innosight Partner Brian Hindo. "To get a glimpse of what the "future of telecom" (the "FoT") could look like, we point to the potential capabilities of 5G wireless technologies, and the planned buildout of the FirstNet carrier-grade public safety network, along with the rapidly evolving customer needs relating to Internet of Things (IoT) services and service models."
TPT Global Tech Inc. (OTCQB: TPTW) earlier this 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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Sprint Corporation (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Recently, Sprint announced that it had reached a significant milestone on its path towards launching mobile 5G service beginning in the first half of this year. Together with Nokia and Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, the companies recently completed the world's first over-the-air 5G data transmission using 2.5 GHz and Massive MIMO on Sprint's live commercial network. The field test, conducted on Sprint's commercial network in San Diego, used global 5G standards on a commercial 3GPP 5G New Radio (NR) network with Sprint's 2.5 GHz spectrum, Nokia's dual-mode AirScale Massive MIMO radio, and a mobile smartphone form-factor test device powered by the Qualcomm® Snapdragon™ X50 5G modem and antenna modules with integrated RF transceiver, RF front-end and antenna elements. The test demonstrated a seamless transition of connectivity between Sprint's 4G LTE Advanced and 5G network, while streaming YouTube videos, conducting Skype audio and video calls, and sending and receiving Instant Messages. "This is a big step forward – Sprint 5G is now out of the lab and in the field as we prepare for our commercial launch in the first half of this year," said Dr. John Saw, Sprint's Chief Technology Officer. "We're making great progress towards giving Sprint customers the first mobile 5G experience in nine top cities with the first 5G smartphone in the U.S."
Nokia Corporation (NYSE: NOK) create the technology to connect the world. Nokia develops and delivers the industry's only end-to-end portfolio of network equipment, software, services and licensing that is available globally. Nokia, in advance of Mobile World Congress 2019, recently announced that it is opening a network of Cognitive Collaboration Hubs. These data science centers will further the cooperation between Nokia, operators, and enterprises under one roof in order to develop innovative, AI-powered use cases. One such use case is Driver Behavior Analytics that aims to improve road safety by providing real-time analysis of driver performance and road conditions. By hosting development on the Nokia AVA cognitive services platform, the hubs will reduce operators' time to market and increase their return on investments in data analytics. The hubs provide a catalyst for operator strategy development and help them solve key challenges by applying analytics and Artificial Intelligence (AI) techniques. Agile development processes are used to jointly create use cases, test and put them into operation within weeks. Typical application areas focus on network operations, network performance, customer experience and data monetization. 5G is another key focus, and Nokia is currently working with several US operators on the use of machine learning to improve 5G network planning - for example to help identify the best site locations or Massive MIMO beamforming configurations. Dennis Lorenzin, Head of the Network Cognitive Service Unit at Nokia said, "Nokia Cognitive Collaboration Hubs are yet another step in the expansion of our data analytics and AI services capabilities, which are widely recognized as industry-leading. Building on our data science and telco expertise, we are helping our customers apply AI technologies to improve their operational efficiency, prepare their networks for 5G, and generate new revenues."
KT Corporation (NYSE: KT), Korea's largest telecommunications service provider reestablished in 1981 under the Telecommunications Business Act, is leading the era of innovations in the world's most connected country. Recently, KT Corporation had officially launched its 5G network commercial service through an AI-equipped robot named Lota, marking a new era of innovation in the world's information and communications technology (ICT) sector. The Korean telecom leader selected an AI robot as its first customer to symbolize its new 5G network service -- providing a platform for innovation across the spectrums of business and people's livelihoods. In a note to employees last week week, KT Chairman Hwang reaffirmed the Company's vision to continue developing as an intelligent platform for innovation in the new 5G era, leading the so-called Fourth Industrial Revolution. KT plans to expand its nationwide 5G network to 24 major cities, key transport routes such as expressways, subways, high-speed railways, large universities and neighborhood shopping areas. The next phase of the new network will provide seamless 5G coverage through KT's latest network technology and innovation. "KT has ushered in the 5G era by launching commercial 5G service on our 5G network across the country, and we will do our best to extend our coverage to every nook and cranny of the most remote mountain areas and islands, as well as urban cores," KT's Oh Sung-Mok said. "We will provide the best quality 5G service to our clients by continuing to develop cutting-edge technologies."
Inseego Corp. (NASDAQ: INSG) is an industry pioneer that enables high performance mobile applications for large enterprise verticals, service providers and small-medium businesses around the globe. Inseego Corp. recently showcased its latest 5G innovations for a variety of mobile, fixed and industrial IoT use cases at the Consumer Electronics Show (CES) in Las Vegas. Inseego had been selected by a major Asia-Pacific service provider to bring its 5G NR network to life with Inseego's revolutionary 5G Home Router. This new customer joins an extensive list of Tier One global operators that have been working with Inseego to make fixed and mobile wireless 5G real for millions of their customers in 2019. Inseego's fixed wireless and mobile solutions enable new, ground-breaking use cases for the immediate and future economy, as well as in everyday life. "Continuing our pioneering legacy in bringing next generation mobile networks to life, by building the next generation of platform level, globally deployable products, we are delivering on our promise to awaken 5G across markets worldwide. By working closely with many Tier One global operators on 5G NR technologies, our portfolio of 5G NR products supports mmWave and sub-6GHz bands as well as other bands currently being deployed," said Inseego Chairman and Chief Executive Officer, Dan Mondor. "Numerous wireless service providers in North America, Australia, Europe and the Asia-Pacific region are actively deploying fixed and mobile wireless 5G NR in 2019 and 2020, and we are thrilled to be playing a pivotal role in making 5G Real across the world alongside them."
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