ORBITAL ENERGY GROUP‘THE S SUBSIDIARY, GIBSON TECHNICAL SERVICES, ACQUIRES THE PRIVATE HOLDING OF FULL MOON TELECOM LLC
HOUSTON, (October 26, 2021) – Orbital Energy Group, Inc. (NASDAQ: OEG) (“OEG”) announced today that its telecommunications subsidiary, Gibson Technical Services, Inc. (“GTS”), has entered into a definitive purchase agreement to acquire 100% of Full Moon Telecom LLC (“Full Moon”), a Florida-based private telecommunications service provider that offers a wide range of wireless service capabilities and experience, including Layer 2 / Layer 3 transport, integration of radio access network (“RAN”), testing and commissioning of Small Cell systems and integration / commissioning of distributed antenna systems (“DAS”).
The acquisition will increase revenues and increase profits for GTS and OEG from the current fiscal quarter. Full Moon will become a wholly owned subsidiary of GTS, expanding GTS’s service offerings to its customers.
Additional Full Moon capabilities include the provision of site surveys, regulatory support, project management, continuous wave testing, scanner runs, optimization / data collection and validation and testing of E911 data. These additional skills combined with Full Moon’s RAN integration and DAS commissioning efforts have enabled an expanded service offering and a turnkey approach to ensure on-time delivery and quality end-to-end solutions to customers. wireless.
Much like the recent acquisition of IMMCO, Inc. by GTS, the acquisition of Full Moon, combined with GTS ‘service framework agreements, capabilities, reputation and extensive contacts in the telecommunications industry, is another of the many acquisitions the Company plans to make this year, as OEG implements its transformation strategy into a full-service electrical, telecommunications and renewable energy infrastructure services platform.
“This transaction, like the recent acquisition of IMMCO, is exactly why the entire GTS management team was so excited to join OEG earlier this year,” explained the CEO of GTS, Mike McCracken. “Our talented technical staff and world-class service team, combined with our reputation in the telecommunications industry and OEG’s resources, enabled us to make this accretive acquisition; which, in turn, will both allow us to further penetrate the telecommunications market. Full Moon’s established network, skilled workforce, technique, expertise and unique portfolio of services will enhance GTS’s ability to grow both organically and through additional acquisitions. Enable GTS to market its broad portfolio of technical services to a much larger customer base and geographic footprint. ”
“The whole Full Moon team is very happy to embark on this new adventure!” said Full Moon CEO Vicky Sansoni, “We believe our skills merged with GTS expertise and OEG’s vast resources will provide a wealth of opportunity and growth for all.”
Orbital Energy Group, Inc. (Nasdaq: OEG) creates a diversified energy services platform through the acquisition and development of innovative companies. Orbital Energy’s business group includes Orbital Power Services, Orbital Solar Services, Orbital Telecom Services and Orbital Gas Systems.
Orbital Power Services provides engineering, construction, maintenance and emergency response solutions to the electricity, utility and intermediary markets.
Orbital Solar Services provides engineering, procurement and construction (“EPC”) expertise in the renewable energy sector and has established relationships with solar developers and panel manufacturers in the large-scale solar market.
Orbital Telecom Services, operating as Gibson Technical Services, has nationwide sites equipped to effectively support multi-vendor OEM technology environments and off-site facility construction operations as needed with services specializing in broadband, wireless, outdoor facility and building technologies, including healthcare. Orbital Gas Systems has been a leader for 30 years in innovative gas solutions, serving the energy, electricity and processing markets through the design, installation and commissioning of sampling systems, measurement and distribution of industrial gases.
As a publicly traded company, Orbital Energy is dedicated to maximizing shareholder value. Most importantly, our commitment to conducting our business with a high level of integrity, respect and philanthropic dedication enables the organization to make a difference in the lives of its customers, employees, investors and the global community.
For more information, please visit: www.orbitalenergygroup.com
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act, as amended, including those relating to the intended use of the product. These statements can be identified by the use of forward-looking phrases, including, but not limited to, “expect”, “anticipate”, “intend”, “plan”, “believe” , “Estimate”, “” predict “,” project “,” should “,” would “and similar expressions and negative aspects of these terms. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from the results, performance or achievements expressed or implied by forward-looking statements. These factors include risk factors set forth in documents filed by the Company with the Company. of the SEC, including, without limitation, its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, its periodic reports on Form 10-Q and its Filed Form 8-K Reports in 2020 and 2021, as well as the risks identified in the prior registration statement and the prospectus supplement relating to the offer. Prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Orbital does not undertake to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
John Beisler or Steven Hooser
Orbital Energy Group Inc. published this content on October 27, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on October 27, 2021 09:08:55 PM UTC.