Samsung Acquires TeleWorld Solutions for 5G Network Deployments
Samsung has acquired TeleWorld Solutions (TWS), a network services provider in Chantilly, Virginia. The deal may allow Samsung to accelerate 5G wireless network rollouts across the United States. Financial terms were not disclosed.
This is M&A Deal Number 44 that ChannelE2E has covered in 2020. See the complete M&A deal list here.
TWS provides network design, testing and optimization services to mobile service and cable operators, equipment OEMs and other companies across the U.S. TWS will operate as a wholly owned subsidiary of Samsung Electronics America Inc. The TWS leadership team will continue to manage the business.
Demand for 5G wireless network deployment services appears strong. There were four million global 5G connections in the third quarter of 2019, with deployments expected to skyrocket in 2020, according to 5G Americas. The number of 5G subscribers could reach 1.3 billion by 2023, according to data from Ovum.
Explained the TWS deal, Samsung EVP Paul Kyungwhoon Cheun said:
“The acquisition of TWS will enable us to meet mobile carriers’ growing needs for improving their 4G and 5G networks, and eventually create new opportunities to enhance our service capabilities to our customers. Samsung will continue to drive innovation in communications technology, while providing optimization services for network deployments that accelerate U.S. 5G network expansion.”
Added Shervin Gerami, CEO of TeleWorld Solutions:
“Everyone at TeleWorld Solutions is excited to be part of the Samsung family. The advent of 5G and the amount of new spectrum coming into the U.S. market requires scale and innovation for the next generation of wireless technologies. Joining forces with Samsung will accelerate innovation to help our customers fulfill their needs for network strategy, deployment, and automation.”
Samsung employs over 20,000 workers across the United States.