FinancialBuzz.com News Commentary
NEW YORK, April 10, 2019 /PRNewswire/ -- Each year, mobile devices become more popular as the proliferation of mobile communications grows. Nearly 95% of Americans owned a cellular device in 2018, with 77% of that group owning a smartphone of some kind, according to Pew Research Center. In 2018, it was estimated that U.S. adults spent an average of 3 hours and 35 minutes per day on their mobile devices, according to eMarketer. By 2019, the data suggests that time spent on mobile devices will surpass time spent watching TV. As the adoption of mobile communications was largely due to the expansion of the telecommunications industry, the telecom sector is comprised of companies that allow consumers to communicate with one another through the use of phones and the internet, both wired and wireless. Companies involved in the telecom industry include wireless operators, satellite companies, cable companies, and internet service providers. The telecom market space is projected to accelerate based on several key factors such as the developments in wireless communications, long-distance carriers, domestic telecom services, and diversified communication services. Consumer demand and expectations are also shifting every year as technology becomes more ingrained in daily lives. Now, consumers want a faster, more reliable, and safer method of communication, prompting telecom companies to develop new, innovative technologies in order to achieve expectations. According to data compiled by International Data Corporation (IDC), the global telecom market is expected to maintain a steady growth of 2% over the forecast period from 2018 to 2022. TPT Global Tech Inc. (OTC: TPTW), Nokia Corporation (NYSE: NOK), BlackBerry Limited (NYSE: BB) (TSX: BB), Sprint Corporation (NYSE: S), Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC).
IDC says that telecom providers are in a state of transition, facing a flat voice market, but steady growth in fixed and mobile data services are bolstering the market. Competition between providers is aggressive as they are continually developing and implementing new technologies to provide optimal services. In particular, 5G technology is one of the most anticipated services in the telecom market space. 5G will further enhance connectivity in mobile communication experiences among consumers. And, according to Netscribes, the global 5G technology market is expected to reach USD 251 Billion by 2025, registering a robust CAGR of 97% over the next five year period. Globally, many providers have already launched 5G services on a small-scale in specific cities and towns. A majority of the services are conducting pilot runs in order to test and receive feedback or results. Afterward, companies will adapt to consumer trends as well as enhance technology, eventually leading to a nation-wide or global-wide launch. "Fifth-generation or 5G technology is much more than the future of global telecommunications, offering more bandwidth than anyone ever imagined (think of downloading entire movies in a few seconds) and enough to make the Internet of Things a daily reality," said Arthur Herman, Senior Fellow at the Hudson Institute and Director of the Quantum Alliance Initiative, " The rollout of 5G also demands billions of dollars to install the fiber-optic networks needed for these high-capacity systems, and billions more to operate them. Which companies and which countries design and invest in this new infrastructure, will have a hefty say in not only how 5-G transmits information, but also how others are to access the system."
TPT Global Tech Inc. (OTCQB: TPTW) earlier this week 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) create the technology to connect the world. We develop and deliver the industry's only end-to-end portfolio of network equipment, software, services and licensing that is available globally. Recently, Telenor Group and Nokia announced that they will test 5G capabilities in both the Radio Access Network (RAN) and the mobile core network in Denmark. Nokia will deploy AirScale base stations for piloting 5G in Telenor Denmark's commercial radio access network and will also test new functions in the cloud-core network as part of the 5G pilot. Federico Guillen, president of customer operations, Nokia said: "Nokia is working with all the major operators in the lead 5G markets globally, is the largest R&D investor in Europe and offers an unmatched end-to-end 5G portfolio. As a trusted partner to Telenor Group, where our AirGile 5G ready cloud-native core is being deployed across eight countries, we are excited to define and test concrete 5G use cases leveraging Nokia's networking and services capabilities."
BlackBerry Limited (NYSE: BB) (TSX: BB) enables the Enterprise of Things by providing the technology that allows endpoints to trust one another, communicate securely, and maintain privacy. BlackBerry Limited recently announced its commitment to helping the private and public sectors come together to accelerate the development of Smart Cities and Intelligent Transportation Systems with a Security Credential Management System (SCMS) service. The SCMS service is based on BlackBerry's Certicom technology and offers a secure and reliable hosted Public Key Infrastructure (PKI) which can manage certificates on behalf of an organization or an entire ecosystem. The service is designed to scale to support national and transnational deployments, allowing OEMs and public officials to take advantage of a turnkey cloud-based service for vehicle-to-infrastructure (V2X) certificate issuance and lifecycle management. BlackBerry can also support hybrid SCMS solutions optimized for high-volume vehicle production. The Company's first project using the new SCMS service will be in partnership with Invest Ottawa, who will leverage it within a secure 16-kilometer road autonomous vehicle (AV) test track that resembles a miniature city, complete with pavement markings, traffic lights, stop signs, and pedestrian crosswalks. "We are delighted to partner with BlackBerry to demonstrate this SCMS service in a variety of V2X applications," said Kelly Daize, Director of the CAV Program at Invest Ottawa. "Our integrated public and private AV test tracks are equipped with GPS, DSRC, Wi-Fi, 4G/LTE and 5G, making this the first AV test environment of its kind in North America. We look forward to leveraging the world-class security and analytic capabilities of BlackBerry and making them available to innovators, firms, and regions to accelerate the secure deployment of AVs, Intelligent Transportation Systems, and smart cities."
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 at MWC Barcelona, the Telecom Infra Project (TIP) announced a new project group named Open RAN 5G NR led by co-chairs Sprint and Vodafone with support from several hardware, software and integration vendors including Airspan, Altiostar, Aricent (an Altran company), Arm, Intel, Parallel Wireless, TechMahindra and Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated. The initial focus of the project group is the development of sub-6 GHz 5G NR small cells for outdoor and indoor use cases, with millimeter wave 5G NR small cells to follow. The Open RAN 5G NR project group aims to create an open reference design that leverages general purpose hardware, allowing operators to select best-of-breed hardware components coupled with open source software for a flexible modular 5G NR platform. Based on operator input, the project group will develop modeling techniques and a test framework for specific applications and deployment scenarios using both standalone and non-standalone 5G NR wireless system architectures. "Industry collaboration is a model that works," said Ron Marquardt, Vice President of Technology Innovation at Sprint. "With a vibrant community, the model streamlines processes and delivers a high volume of contributions, all leading to rapid innovation. We're excited to co-chair this effort and help lead the development of sub-6 GHz 5G NR small cells based on open reference designs."
Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) enables communications service providers to capture the full value of connectivity. Ericsson was recently selected by Batelco to commercially deploy 5G to enhance the digital lives of people, enterprises and industries across Bahrain. The nationwide 5G deployment will happen in phases in key locations. The deal, the latest in a long and successful partnership between the companies, will see Ericsson commercial 5G equipment – including 5G New Radio (NR), mobile transport, and core – being deployed in Batelco's network. Ericsson's high-speed and low-latency 5G technology will help Batelco meet growing data traffic demands and deliver high-quality enhanced mobile broadband and fixed wireless access experiences. Rafiah Ibrahim, Head of Market Area Middle East & Africa at Ericsson says: "Today, we are partnering with Batelco for a 5G commercial deployment in Bahrain. 5G promises to accelerate the digitization of industries, offering service providers with new opportunities and enabling them to launch the most advanced technologies while improving the end-user experience with higher data speeds and lower latency."
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