Charge Enterprises Acquires ANS Advanced Network Services to Expand Its Infrastructure Business

Rhea-AI Summary

Charge Enterprises Inc. (OTC PINK:CRGE) has successfully acquired ANS Advanced Network Services, enhancing its capabilities in telecommunications and infrastructure. This transaction, announced on May 13, 2021, marks a strategic expansion for Charge, which focuses on DC power installation and telecommunications services. Established in 1991, ANS has a strong presence across the U.S., providing high-quality engineering and installation services. This acquisition is expected to bolster Charge's market position and service offerings in the telecom sector.

Positive

• Acquisition of ANS enhances Charge's telecommunications infrastructure capabilities.
• Expansion of Charge's service offerings in DC power installation and related services.
• ANS's established market presence and expertise could drive revenue growth.

Negative

• Integration challenges may arise from the acquisition of ANS.
• -

NEW YORK, NY / ACCESSWIRE / May 25, 2021 / Charge Enterprises Inc. (OTC PINK:CRGE), ("Charge" or "the Company"), connecting people everywhere with communications, infrastructure and charging, announced today that it has completed the acquisition of ANS Advanced Network Services ("ANS"), a turnkey provider of direct current (DC) power installation and telecommunications services. Charge announced a definitive agreement to acquire ANS on May 13th 2021.

Founded in 1991, ANS' predecessor company, Telecommunications Analysis Group, Inc., began with a strategic focus on communications and telephone networks in the enterprise and higher education market, providing high-quality Engineering, Furnishing and Installation (EF&I) services for building and developing infrastructure. Over time, ANS has grown from servicing telephone networks to providing high-quality engineer, furnish and install (EF&I) services for wireless carriers, tower owners, enterprise facilities, and government offices. This includes in-building wireless (DAS), cell tower and network infrastructure services, as well as DC and UPS backup power services. Today, ANS's U.S. footprint extends from Chicago to the Northeast and down the East Coast, with as-needed support nationwide.

About Charge Enterprises Inc.

Charge Enterprises Inc; With a mission of connecting people everywhere with a strategy in telecom network infrastructure, connected calls, power banks, EV charging infrastructure installation and maintenance. Trading under the Ticker: CRGE. We're a public company that shares our success with all stakeholders.

Our business operates in three distinct divisions through a number of recently acquired, or newly formed subsidiaries, including:

• Charge Communications, with a strategy to offer Unified Communication as a Service (UCaaS) and Communication as a Platform Service (CPaaS), providing termination of both voice and data to Carriers and Mobile Network Operators (MNO's) globally for over 2 decades.

• Charge Infrastructure, addresses telecom network infrastructure, including 5G small cell installation, portable power banks, micro-mobility charging, and EV charging installation, stations & maintenance.

• Charge Investment, along with marketable securities, the investment division focuses on opportunist investments in EV and telecom related businesses

Charge's strategy is to do the unglamorous part of connecting calls and powering the future of movement.

We have recently acquired a number of subsidiaries, through which we operate our three business divisions.

To Learn more about Charge, visit https://www.charge.enterprises/.

Safe Harbor Statement

Information in this news release may contain statements about future expectations, plans, prospects or performance of Charge Enterprises, Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Charge Enterprises, Inc. cautions you that any forward-looking information provided by or on behalf of Charge Enterprises, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Charge Enterprises, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Charge Enterprises, Inc.'s control. In addition to those discussed in Charge Enterprises, Inc.'s press releases, public filings, and statements by Charge Enterprises, Inc.'s management, including, but not limited to, Charge Enterprises, Inc.'s estimate of the sufficiency of its existing capital resources, Charge Enterprises Inc's ability to raise additional capital to fund future operations, Charge Enterprises, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Charge Enterprises, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Charge Enterprises, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

Contact:

LHA Investor Relations
Carolyn Capaccio, CFA
ccapaccio@lhai.com
212.838.3777

SOURCE: Charge Enterprises Inc.

View source version on accesswire.com:
https://www.accesswire.com/649008/Charge-Enterprises-Acquires-ANS-Advanced-Network-Services-to-Expand-Its-Infrastructure-Business

FAQ

What is the strategic importance of the acquisition of ANS by Charge Enterprises?

The acquisition aims to enhance Charge Enterprises' capabilities in telecommunications and infrastructure, positioning it for growth in DC power installation and service offerings.

What services does ANS provide that will benefit Charge Enterprises?

ANS provides high-quality engineering, furnishing, and installation services, including DC power solutions and support for wireless carriers, which will expand Charge's existing capabilities.

When was the acquisition of ANS by Charge Enterprises announced?

The acquisition was announced on May 13, 2021.

How might the acquisition affect Charge Enterprises' stock performance?

The acquisition could positively impact Charge's stock performance by expanding its market presence and service capabilities, potentially leading to increased revenues.

What are the potential risks associated with the acquisition of ANS by Charge Enterprises?

Integration challenges and the successful alignment of ANS's operations with Charge's existing business model may pose risks to the acquisition.