Gibson Technical Services, Acquires Privately Owned Full Moon Telecom LLC

HOUSTON, Oct. 26, 2021 / PRNewswire / -- Orbital Energy Group, Inc. (NASDAQ: OEG) ("OEG") today announced its telecommunications subsidiary, Gibson Technical Services, Inc. ("GTS"), has entered into a definitive Purchase Agreement to acquire 100% of Full Moon Telecom LLC ("Full Moon"), a Florida-based, privately-owned telecommunications service provider that offers an extensive array of wireless service capabilities and experience including Layer 2/Layer 3 Transport, Radio Access Network ("RAN") Integration, test and turn-up of Small Cell systems and Integration/Commissioning of Distributed Antenna ("DAS") systems.

The acquisition will add revenues and be accretive to earnings for GTS and OEG beginning in the current fiscal quarter. Full Moon will become a wholly-owned subsidiary of GTS, expanding GTS's service offerings to its customers.

Full Moon's additional capabilities include providing site surveys, regulatory support, project management, continuous wave testing, scanner walks, optimization/data collection and E911 data validation and testing. These additional skill sets combined with Full Moon's RAN integration and DAS commissioning efforts have allowed for an expanded service offering and turnkey approach to ensuring the on time delivery and quality on end-to-end solutions to wireless customers.

Much like the recent acquisition of IMMCO, Inc. by GTS, acquiring Full Moon, combined with GTS's Master Services Agreements, capabilities, reputation, and extensive contacts throughout the telecommunications industry, is another of several acquisitions the Company plans to execute upon this year, as OEG implements its strategy to transform into a full-service electrical, telecommunications, renewable infrastructure services platform.

"This transaction, like the recent acquisition of IMMCO, is exactly the reason the entire GTS Management Team was so excited about joining OEG earlier this year," explained GTS's CEO, Mike McCracken. "Our talented technical employees and world-class service team, combined with our telecommunications industry reputation and OEG's resources, enabled us to make this accretive acquisition; which, in turn, will allow us both to further penetrate the telecommunications market. Full Moon's established network, skilled workforce, technical, expertise, and unique portfolio of services will enhance GTS's ability to expand both organically and through additional acquisitions. Allowing GTS to market its broad portfolio of technical services to a much larger customer base and geographic footprint."

"The entire Full Moon team is very excited to embark on this new venture," said Full Moon's CEO, Vicky Sansoni. "We believe that our skill sets merged with GTS' expertise and OEG's broad resources will provide a multitude of opportunities and growth for all."