(PublicWire.com News Release) New York, NY, November 1, 2012 (ETELIGIS) – On October 15th 2012, Softbank, a Japanese mobile operator, announced, to the greatly surprised investment community, their intent to purchase approximately 70% of Sprint Nextel Corp. (NYSE: S) for $20.1 billion, representing the largest amount a Japanese firm has spent on an overseas acquisition, to date. Analysts anticipate for this merger to position the combined company securely in 3rd place in the wireless market while allowing Sprint to secure capital in order to further develop its 4G LTE network. This story overshadowed another acquisition announcement earlier in the month by T-Mobile’s German parent Deutsche Telekom AG (PINK: DTEGY) and their intent to acquire smaller rival MetroPCS Communications Inc. (NYSE: PCS) to position the combined company in solid 4th place in the American telecom market.
This wave of merger and acquisitions is anticipated to provide considerable competition to the already prominently positioned Verizon Communications Inc. (NYSE: VZ), and AT&T Inc. (NYSE:T), which together control roughly 69% of the wireless market, with 38% and 31%, respectively. However, despite these multi-billion dollar mergers among the nation’s top mobile carriers, there has been considerable growth, innovation and merger activity among top-tiered specialty service providers for the construction and maintenance of facilities-based communications systems operated by these national carriers.
Genesis Group Holdings, Inc. (OTCQB: GGHO), a specialty service provider for the wireless industry, on September 18th 2012, announced that it has successfully completed acquisitions valued at over $19 million. Through these targeted acquisitions Genesis Group Holdings, Inc. is able to more effectively meet the growing needs of its customers such as Alcatel Lucent SA (ADR) (NYSE: ALU), Verizon Communications Inc. and AT&T Inc.. Genesis Group Holdings, Inc. projects that companies such as Sprint, AT&T and Verizon will continue growing infrastructure spending during the next three to five years by more than $45 billion, providing the specialty service providers, such as Genesis Group, with considerable growth opportunities.
About Genesis Group Holdings, Inc.
Genesis Group Holdings operates through its wholly owned subsidiaries. The Company is an end to end specialty services provider of engineering, construction management and installation fulfillment services to companies in the telecommunications, broadband cable, wireless, two-way radio, transportation, public safety and satellite industries. For more information, please visit: www.genesisgroupholdingsinc.com.
Disclosure: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor’s reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Genesis Group Holdings has hired and paid CSIR Group LLC five thousand dollars for one month investor relations and financial communications services. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein.