Genesis Group Holdings, Inc. (OTCQB: GGHO.OB) (“Genesis Group” or “the Company”), a holding company for providers of specialty services for the construction and maintenance of facilities-based communications systems in the United States, on September 18th announced that it has successfully completed acquisitions valued at over $19 Million of two companies, ADEX Corporation, an international service organization that provides turnkey services and project staffing solutions exclusively to the telecommunications industry, and TNS, Inc., a Chicago-based structured cabling company and distributed antenna system (DAS) installer.
ADEX reported approximately $38 million in revenue for the 12 month period ended July 31, 2012 and approximately $2.2 million in earnings. TNS has generated close to $4 million in gross revenue over the 12 month period ended July 31, 2012 and approximately $300K in earnings. Through these targeted acquisitions Genesis Group Holdings, Inc. (OTCQB: GGHO) is able to more effectively meet the growing needs of its customers and better position its service platform for new business opportunities. Genesis Group Holdings, Inc. maintains a customer base of the world’s most recognizable companies in the telecom industry, including Alcatel Lucent SA (ADR) (NYSE: ALU), Verizon Communications Inc. (NYSE: VZ), and AT&T Inc. (NYSE:T). For 2011, Genesis’ top 10 customers represented 94% of total revenue. In 2010 these carriers spent approximately $54 billion in network outsourcing with outsourcing spending expected to reach over $77 billion by 2015.
Genesis Group Holdings has not been the only company to actively benefit from the continued attractive market dynamics such as 4G / LTE development along with rapid adoption of media-rich mobile devices and increased data usage. The company estimates that continued global wireless infrastructure spending will continue increasing well into 2014 while mobile data traffic is expected to grow at a CAGR of 92% through 2015. Industry comparables to Genesis Group Holdings, Inc. such as Dycom Industries Inc. (NYSE: DY), a provider of specialty contracting services and Volt Information Sciences, Inc. (PINK: VISI), a provider of staffing services, and telecommunications and information solutions primarily in the United States and Europe have also been the recipients of this industry-wide momentum growth.
About Genesis Group Holdings, Inc.
Genesis Group Holdings operates through its wholly owned subsidiaries. The Company is a provider of engineering, construction management and installation fulfillment services to companies specializing 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.
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