CommAgility Signs Over $2 million in Contracts with 4 New Customers for 5G Software and Services in First Half of 2021

Rhea-AI Summary

Wireless Telecom Group (WTT) announced four new 5G software and services contracts in H1 2021, totaling over $2 million in new orders with a potential value exceeding $6 million. The company's CommAgility brand is engaged in diverse 5G projects, including mmWave repeaters and private networks, customizing software to meet client needs. CEO Tim Whelan expressed optimism about the growing pipeline of 5G opportunities, positioning Wireless Telecom Group for leadership in enterprise and commercial networks development.

Positive

• Secured four new 5G contracts totaling over $2 million in orders.
• Potential contract value exceeds $6 million, indicating strong demand.
• CommAgility is involved in diverse 5G technology projects, enhancing growth prospects.

Negative

• None.

Parsippany, New Jersey, USA, June 15, 2021 (GLOBE NEWSWIRE) -- Wireless Telecom Group, Inc. (NYSE American: WTT), announced today that its Radio, Baseband, and Software product group, comprised of the company’s CommAgility brand, has signed four new 5G software and services contracts in the first half of 2021. These four new contracts represent over $2 million of new orders received in the first two quarters of 2021 and together have a total potential contract value of over $6 million.

CommAgility’s software is being used in a variety of 5G technology development projects including programs that include 5G mmWave repeaters, 5G base stations and small cells, US Department of Defense 5G research projects, and private network deployment. In each case CommAgility customizes the software to the unique requirements of its clients’ projects, simplifying the development process, cutting time to market and reducing risk. Additionally, as a collaboration partner with NXP Semiconductor for its Layerscape Access Processors, CommAgility engineers are able to provide class-leading services and excellent support to others developing and deploying 5G products using the NXP platform.

“We are excited about the strong sales of 5G software in the first half of 2021 and continue to see a growing pipeline of 5G opportunities,” said Tim Whelan, CEO of Wireless Telecom Group. “With 5G deployment in early stages and the unique 5G hardware and software solutions and capabilities of CommAgility, Wireless Telecom Group is well positioned to be a leader in technology development for 5G enterprise networks, commercial applications, and private networks.”

The CommAgility portfolio for 5G NR development includes pre-ported and validated PHY and Stack software, a 5G core, and a reference chain. This comprehensive portfolio of 5G NR software simplifies the development of 5G small cells and private networks. Integration with available hardware accelerators and libraries is made easier by the software's flexible architecture, and versions are available for both 5G gNodeB and UE product developers. CommAgility also offers the 5G Reference gNodeB, a pre-integrated system, including both hardware and software, which is based on the NXP Layerscape Access 5G integrated SoC chipset.

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About Wireless Telecom Group

Wireless Telecom Group, Inc., comprised of Boonton, CommAgility, Holzworth, Microlab, and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems, and instruments. Serving the wireless, telecommunication, satellite, military, aerospace, semiconductor, and medical industries, Wireless Telecom Group products enable innovation across existing and emerging wireless technologies. With a product portfolio including peak power meters, signal generators, phase noise analyzers, signal processing modules, LTE PHY/stack software, power splitters and combiners, GPS repeaters, public safety components, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe.

Wireless Telecom Group, Inc.’s website address is wirelesstelecomgroup.com. Except for historical information, the matters discussed in this news release may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief, or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. Such risks and uncertainties are identified in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2020.

Investor Contact
Andrew M. Berger
Managing Director
SM Berger& Company
(216) 464-6400
andrew@smberger.com

Marketing Contact
Maria Droge: +1 (973) 386-9696
Wireless Telecom Group Inc.
25 Eastmans Road
Parsippany, NJ 07054
Tel: (973) 386-9696
Fax: (973) 386-9191
www.wtcom.com

FAQ

What new contracts did Wireless Telecom Group (WTT) secure in 2021?

Wireless Telecom Group announced four new 5G software and services contracts in the first half of 2021.

What is the potential value of the new contracts for WTT?

The new contracts have a total potential value exceeding $6 million.

How much revenue has WTT generated from new 5G contracts?

WTT has generated over $2 million in new orders from the four 5G contracts.

What projects are included in the new contracts for WTT's CommAgility brand?

The projects include 5G mmWave repeaters, base stations, and private network deployments.

Who is the CEO of Wireless Telecom Group and what did he say about 5G contracts?

CEO Tim Whelan expressed excitement about strong sales of 5G software and a growing pipeline of opportunities.