FinancialBuzz.com News Commentary
NEW YORK, April 9, 2019 /PRNewswire/ -- Decades ago, telecommunications became a major global industry with the emergence of technology. In 2017, nearly 98% of the world was covered under a telecommunications network. Telecommunications is the transmission of signals or messages through electromagnetic systems. These systems allow one participant to transfer or receive information to or from another user. The evolution of the telecom industry has impacted consumer's lives by offering daily connections between families and friends and allowing businesses to ramp up their operations. Within the telecom industry, there are various sub sectors that many users and business have implemented. These sectors include network security, network operations, telecom infrastructure, billing companies, enterprise communications, and telecom software. The emergence of telecom has made it easier for consumers to connect with one another, however, consumer trends begin to change as the bar for telecom providers rises. Nowadays, consumers demand innovative technology such as faster, more stable and secure services. As consumer trends begin to shift, providers are competing against one another to provide optimal and efficient services, causing the telecom market to grow exponentially. Additionally, the market is seeing large investments in order to accelerate the production of advanced technology. According to data compiled by Plunkett Research, Ltd., the U.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), Nokia Corporation (NYSE: NOK), Infinera Corporation (NASDAQ: INFN), Resonant Inc. (NASDAQ: RESN), VEON Ltd. (NASDAQ: VEON).
Technological advancements such as 5G networks and the Internet of Things have rapidly changed the telecom market space. Players within the industry are accelerating operations in order to deploy efficient and effective networks for consumers. Safer and faster connections have become critical for daily life tasks, however, the standard is continually rising each year. For instance, 5G broadband is the most anticipated telecom network, which will deploy faster connectivity than its predecessors, 4G and LTE. Each advancement of telecom networks has provided consumers with more secure and stable networks than the previous. Furthermore, its evolution has allowed for stronger connectivity for international communications. Now, telecom companies are all racing to deploy the first large-scale 5G network for consumers. However, with the expansion of the network, challenges such as security concerns also arise. "The most newsworthy stories in wireless today are all about 5G. In 2019, we enter a cautious, early adoption phase of this next generation of wireless technology," said Ben Cardwell is senior vice president of Global Sales and Marketing at CommScope. "When it comes to connecting devices to the network, wireless has obviously won. Now we need to see how far 5G can take it. As fixed wireless access penetrates residential markets, and open interfaces in 5G networks promise to make new vertical markets more accessible, the possibilities are endless. This year we will see the first glimpses of 5G. But what might come in years following is more, better and faster. The 5G future continues to shine brightly ahead."
TPT Global Tech Inc. (OTCQB: TPTW) yesterday 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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Nokia Corporation (NYSE: NOK) creates the technology to connect the world. The Company creates and delivers the industry's only end-to-end portfolio of network equipment, software, services and licensing that is available globally. Nokia recently celebrated its 30th commercial 5G deal with the announcement March 25th of a new contract with Austria's A1. The agreements demonstrate Nokia's extensive portfolio of 5G capabilities, the industry's only true end-to-end range available globally from a single provider. Taken together, the 30 commercial deals - including 16 with publicly named service provider customers - offer an insight into the progress of 5G roll-outs around the world and illustrate the value network operators see in this technology. "This achievement marks a proud moment for Nokia as a company," commented Rajeev Suri, President and Chief Executive Officer of Nokia. "With these agreements, creating new partnerships and continuing existing relationships around the world, we can see the promise of 5G becoming a reality. Many of the 30 commercial 5G deals we celebrate today include multiple elements from across our end-to-end portfolio as our customers turn to Nokia at each stage of their 5G investment cycle."
Infinera Corporation (NASDAQ: INFN) is a global supplier of innovative networking solutions that enable carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate network operations. Infinera recently announced The Infinite Network, a disruptive, end-to-end network architecture paving the way to instantly scalable, self-optimizing networks that dynamically adapt to the demands of users and applications. The architecture expands the power of Infinera's unique vertically integrated Infinite Capacity Engine (ICE) and Instant Bandwidth operational model by introducing the newest generation of ICE technology, extending ICE and Instant Bandwidth to the network edge and integrating them into a comprehensive new framework of open, disaggregated, packet-optimized solutions with network automation and machine learning. The Infinite Network is designed to enable operators to scale their networks efficiently to support relentless bandwidth growth and new bandwidth-intensive and latency-sensitive applications including 5G services, Distributed Access Architectures (DAA), data center interconnection and cloud-based business services. "The Infinite Network builds on the innovations and advantages of Infinera's vertically integrated technology, delivering a powerful solution for our customers to meet the transformational demands of emerging next-generation services such as 5G, DAA and cloud-based services," said Parthiban Kandappan, Infinera Chief Technical Officer.
Resonant Inc. (NASDAQ: RESN) is transforming the market for RF front-ends (RFFE) by disrupting the RFFE supply chain through the delivery of solutions that leverage our Infinite Synthesized Network (ISN) software tools platform, capitalize on the breadth of our IP portfolio, and are delivered through our services offerings. Resonant Inc. recently provided an update related to its breakthrough resonator technology, XBAR™, which holds the potential for a new class of high-performance RF filters for 5G devices. XBAR Progress to Date: First filters using XBAR resonators have been fabricated; XBAR filters are successfully demonstrating greater than 500 MHz bandwidth at 5 GHz; XBAR filters have a significantly smaller form factor than competing dielectric-based filters. "We first introduced XBAR resonators in October of 2018 and have made significant progress," stated George B. Holmes, Chief Executive Officer of Resonant. "The first filters using our XBAR resonators have been fabricated and current tests of these XBAR filters are demonstrating the capability to handle the wider passbands required for 5G. A key requirement, and critical for the realization and adoption of 5G, is much larger bandwidth capability than is currently available from existing filters. As such, we believe XBAR filters will enable faster adoption of 5G, from sub-6 GHz to up to 30 GHz – an annual market we believe will grow to be more than USD 10 Billion."
VEON Ltd. (NASDAQ: VEON) is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services. PJSC VimpelCom (marketed under the Beeline brand) and Ericsson have recently signed a two-year strategic partnership agreement to develop 5G and Internet of Things (IoT) technologies. VimpelCom (trading as Beeline) is part of the VEON Group. The strategic partnership will focus particularly on improving the flexibility and efficiency of spectrum utilization and implementing new approaches to network architecture involving projects for core network evolution to 5G Core. The two companies will also deploy Massive MIMO on Beeline's networks and develop 5G demonstration clusters. In addition, there will be joint projects on the strategy to prepare Beeline's networks for 5G, which includes scaling of LTE-Advanced and LTE-Advanced Pro technologies and focusing on the 4G standard. Vasyl Latsanych, VimpelCom Chief Executive Officer, says: "5G standard is the future that has yet to come, and it is not clear enough yet how it will influence everyday life of our customers. Nevertheless, for our company, as a major market player, it is important to prepare Beeline network for advance technologies that require a new architecture that is fundamentally different from previous generations. We are upgrading our network together with our partners and developing new services to provide our customers access to the best and modern Beeline network."
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