Charge Enterprises Enters into Definitive Agreement to Acquire ANS Advanced Network Services To Expand Its Infrastructure Business
Charge Enterprises Inc. (OTC PINK:CRGE) announced a definitive agreement to acquire ANS Advanced Network Services, enhancing its EV charging installation solutions and expanding its 5G infrastructure strategy. The acquisition aims to leverage ANS's expertise to scale Charge's infrastructure capabilities while integrating EV charging services. ANS has a strong U.S. presence and a history of serving telecommunications and government sectors. The transaction is expected to close by the end of Q2 2021, pending certain conditions.
- Acquisition of ANS expected to enhance Charge's EV infrastructure capabilities.
- Strategic entry into the 5G infrastructure market through ANS's expertise.
- ANS's established client base will support Charge's telecom business expansion.
- None.
Transforms Charge's Infrastructure Division by enhancing suite of world-class EV charging installation solutions for any type of electric vehicle
NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Charge Enterprises Inc. (OTC PINK:CRGE), ("Charge" or "the Company"), connecting people everywhere with communications, infrastructure and charging, announced today that it has entered into a definitive agreement for the acquisition of ANS Advanced Network Services ("ANS"), a turnkey provider of direct current (DC) power installation and telecommunications services, the company referenced in Charge's March 5, 2021 press release announcing the signing of a non-binding letter of intent. Completion of the transaction is subject to certain closing conditions and is expected to close before the end of the quarter ended June 30, 2020.
"We believe ANS' proven expertise will scale our Infrastructure Division's capability, advance our strategy in 5G and enhance our vision of electronic vehicle, or EV, installation," said Charge's CEO Andrew Fox. "With ANS, we believe Charge can accelerate its entry into the 5G infrastructure market and leverage the ANS brand to start laying the foundation for the future of sustainable mobility. The goal with ANS is to build on its current business and also introduce EV charging infrastructure to the ANS offering by building, installing and maintaining the infrastructure that EV will require."
"Similarly, for our Communications Division, ANS augments our telecom client set with complementary relationships with the largest telecommunications, enterprise and government customers across the country who routinely use ANS' installation services," Fox added. "We are delighted to welcome ANS to Charge as we seek to become the most trusted EV and telecom infrastructure organizations in the world."
"ANS is proud to join Charge in its vision of bringing state of the art EV car charging and wireless communications infrastructure to all corners of the globe. Over the last several months, it has been my pleasure to get to know Andrew Fox and his team at Charge, and our strategy and vision for deploying state of the art technology is in total complete alignment. Over several decades, ANS has been committed to keeping our employees safe, creating meaningful jobs, continuous investment in our employees, exceeding our customers' expectations. Andrew's team holds the same vision. So let's CHARGE forward into the future." said ANS CEO Paul Fettuccia.
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 phone 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.
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