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NAPLES, Fla., April 24, 2018 (GLOBE NEWSWIRE) -- FTE Networks, Inc. (NYSE American:FTNW) (“FTE” or the “Company”), a leading provider of innovative technology-oriented solutions for network, data and intelligent building infrastructure, today announced its subsidiary, CrossLayerTM, Inc., is expanding the capabilities of its software-driven, multi-access, edge compute (MEC) platform for state-of-the-art campuses and multi-use developments with Cumulus Networks. Using Cumulus Linux, an open network operating system from Cumulus Networks, a leader in open and web-scalable networks, the CrossLayer platform integrates and supports all of a commercial building’s or real estate development’s connected applications and devices, delivering improved performance over a traditional in-building network.
“CrossLayer’s converged edge compute and network infrastructure provides a seamless platform to host and connect state-of-the-art smart building technologies, including Internet of Things (IoT) devices as well as applications like facial recognition, which not only provide enhanced security but also market analytics for additional revenue opportunities,” said Michael Bonewitz, Chief Technology Officer of FTE/CrossLayer. “A property owner or developer gains immediate benefits from these capabilities and operational efficiencies, along with high-speed, available everywhere Internet services that increase tenant service options and satisfaction, while creating additional revenue opportunities for the property.”
Explicitly built with a focus on automation, CrossLayer’s platform enables commercial property owners and building managers to integrate existing systems and applications onto the network, fully supporting building operating systems such as elevators and HVAC while providing a platform for a full complement of new applications, including IoT and mobile devices.
With traditional networks, data is collected and transmitted to a cloud environment or data center, where it is processed, analyzed and then returned to the originating devices. A multi-access edge compute network enables the data to be analyzed by a nearby computing device located on the edge of the wireless network, reducing network congestion and latency due to the shorter distance, which results in better performance by applications or devices.
“Cutting-edge organizations know that in order to survive and thrive in this connected economy, they must continuously deliver innovative and brand-strengthening digital services and experiences,” said Josh Leslie, CEO of Cumulus Networks. “That requires a modern, web-scaling network designed for the digital era, one that is simple to operate, built on open standards to drive agility, and cost-efficient to procure and maintain. CrossLayer and FTE have shown the value of what a truly open SDN solution can do for their end-users, and Cumulus Networks is proud to be part of that solution.”
"MEC is increasingly being used to aggregate and consolidate existing sensors, systems and networks in commercial buildings into new cloud and IoT applications,” said Iain Gillott, president and founder of iGR, a market research consultancy focused on the wireless and mobile industry. “This type of solution improves the economics of deploying new IoT applications and services inside commercial buildings, since the existing infrastructure can be leveraged into a new solution."
In addition to the competitive advantage that the CrossLayer platform provides for building owners and managers in an aggressive leasing environment, it also allows them to monetize the network by charging for value-added services, if they choose to do so. Once installed, CrossLayer’s online service portal allows property owners and businesses to access a personalized online ordering and service management portal to order new services, add new users, apply device controls, track users and devices, control usage, and monitor service levels.
About CrossLayer, Inc.
CrossLayer, a managed network services company with a new business model for connecting large-scale, state-of-art campuses and multi-use developments, delivers technology solutions via an advanced network and cloud platform providing owners and developers with the control that comes with an owned-and-operated system. CrossLayer’s purpose-built platform enables companies to introduce and deliver innovative services quickly that increase user satisfaction, while creating monetization opportunities previously afforded only to network operators. Providing reduced capital and operating costs for customers, CrossLayer’s managed network service solutions deliver the agility and flexibility to meet evolving technology advancements. A wholly owned subsidiary of FTE Networks, Inc., CrossLayer is headquartered in Naples, Florida. For more information, please visit www.crosslayer.com.
About FTE Networks, Inc.
FTE Networks, Inc. (“FTNW”) is a leading provider of innovation technology. We enable adaptive and efficient smart network connectivity platforms, infrastructure and buildings. FTE provides end-to-end design, build, and support solutions for state-of-the-art networks, data centers, residential and commercial properties. We create transformative smart platforms and buildings. FTE’s services are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of leading edge projects and services. The Company works with Fortune 100/500 companies, including some of the world’s leading Telecommunications and IT Services Providers as well as REITs and Media Providers.
Forward-Looking Statements
This release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “leverage,” “can,” “expanding” and similar references to future periods. Examples of forward-looking statements in this release may include, without limitation, statements regarding our ability to successfully integrate with Cumulus Networks and, in turn, broaden our customer reach and service offerings, the successful implementation of this strategy and our ability to realize the benefits of this strategy, and other matters that involve known or unknown performance or achievements to differ materially from results expressed or implied by this release. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and market trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risk and changes in circumstances that are difficult to predict and many of which are outside of our control. These risk factors and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, our Form 10-K’s, Form 10-Q’s and Form 8-K’s. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, where as a result of new information, future developments or otherwise.
Investor Contact:
Phil Carlson / Steve Silver
KCSA Strategic Communications
Phone: (212) 896-1233 / (212) 896-1220
Email: pcarlson@kcsa.com / ssilver@kcsa.com
Media Relations Contact:
Kate Tumino
KCSA Strategic Communications
Phone: (212) 896-1252
Email: ktumino@kcsa.com
Corporate Contact:
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
ir@ftenet.com
NYSE American: FTNW
Released April 24, 2018