ADDvantage Technologies Expands Telco Segment Offering with Launch of New Wireless Infrastructure Services Business
18 December 2018 - 12:30AM
ADDvantage Technologies Group, Inc. (NASDAQ:
AEY), today announced the launch of a services business
focused on providing wireless infrastructure services to the
telecommunications market. This strategic growth initiative enables
the Company to expand its range of solutions to include services
for the wireless telecommunications market for the first time.
The business will provide turn-key wireless
infrastructure services for wireless carriers, turf vendors
supporting the wireless carriers and wireless equipment
manufacturers. These services will initially consist of the
installation and upgrade of technology on cell sites and the
construction of new small cells. The second phase will include
engineering, site acquisition and commissioning and integration
services for cell sites. The launch of this business is expected to
drive the Company’s growth strategy in 2019 by further diversifying
its offering, allowing it to target new customers in the wireless
telecommunications market.
Joe Hart, CEO, said, “Since completing our
strategic review of operations in July, we have been focused on
identifying additional growth opportunities within the Telco market
which can drive revenue growth and build both near and long-term
value at ADDvantage Technologies. We are pleased to launch a new
wireless infrastructure services business which will allow us to
leverage our expertise, contacts and relationships in the wireless
industry to provide a greater range of solutions to the broader
telecommunications market. With the planned 5G rollout in the
wireless space by all major US carriers, this expansion of services
taps into a growing market and is expected to open up our total
addressable market significantly, thereby diversifying our revenue
streams, representing a meaningful growth opportunity.”
ADDvantage Technologies’ existing operations in
the telecommunications market consist of its Nave Communications
and Triton Datacom businesses. Nave Communications is a provider of
quality refurbished telecommunication networking equipment, with
services that include the repair, testing, and certification of
equipment. Triton Datacom provides new and refurbished enterprise
networking products, including desktop phones, enterprise switches
and wireless routers to brokers and end-users across the U.S.
About ADDvantage Technologies Group,
Inc.
ADDvantage Technologies Group, Inc.
(NASDAQ: AEY) supplies the cable television (Cable TV) and
telecommunications industries with a comprehensive line of new and
used system-critical network equipment and hardware from a broad
range of leading manufacturers. The equipment and hardware
ADDvantage distributes is used to acquire, distribute, and protect
the communications signals carried on fiber optic, coaxial cable
and wireless distribution systems, including television
programming, high-speed data (Internet) and telephony. The Company
is also launching a services business to provide turn-key wireless
infrastructure services, such as the installation and
decommissioning of equipment on cell towers, for wireless carriers,
contractors supporting the wireless carriers, and equipment
manufacturers. In addition, ADDvantage operates a national network
of technical repair centers focused primarily on Cable TV equipment
and recycles surplus and obsolete Cable TV and telecommunications
equipment.
ADDvantage operates through its subsidiaries,
Tulsat, Tulsat-Atlanta, Tulsat-Texas, NCS Industries, ComTech
Services, Nave Communications and Triton Datacom. For more
information, please visit the corporate web site
at www.addvantagetechnologies.com.
The information in this announcement may include
forward-looking statements. All statements, other than statements
of historical facts, which address activities, events or
developments that the Company expects or anticipates will or may
occur in the future, are forward-looking statements. These
statements are subject to risks and uncertainties, which could
cause actual results and developments to differ materially from
these statements. A complete discussion of these risks and
uncertainties is contained in the Company’s reports and documents
filed from time to time with the Securities and Exchange
Commission.
For further information |
KCSA Strategic Communications |
Company Contact: |
Elizabeth Barker |
Scott Francis (918) 251-9121 |
(212) 896-1203 |
|
ebarker@kcsa.com |
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