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NAPLES, Fla., Sept. 12, 2018 (GLOBE NEWSWIRE) -- FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”), a leading provider of innovative technology solutions for smart platforms, network infrastructure and intelligent buildings, today announced its subsidiary, CrossLayer, Inc., is mobilizing the transformation of one of Manhattan’s West 30’s properties by delivering its future-ready, data platform to position the building as one of the most technologically advanced in NY’s prestigious Fashion District, providing new digital technology services to tenants and generating an on-going revenue stream for building owners.
“I am excited to announce the expansion of FTE’s NY footprint with the addition of CrossLayer services to the NY network. CrossLayer is continuing its momentum in the New York market by working with developers to transform buildings into highly desirable workspaces built on one of the most technologically innovative data networks available today. As part of its larger strategy, FTE is preparing to expand into additional NFL cities. New York is the first market due to the strong foundation and presence FTE has already established through its infrastructure segment” said Mr. Michael Palleschi, President and CEO of FTE Networks. “While location and amenities have been primary factors in making office space decisions, now the role of advanced technology as part of a building’s infrastructure is attracting the marketplace to our ability to add revenue generating services.”
CrossLayer will install and operate a direct fiber-to-wireless platform throughout this West 30’s property and serve as a provider of data, internet, voice and advanced communications services. Additionally, CrossLayer’s Campus Connect feature will enable tenants to work anywhere securely within the building, without losing connectivity to their private wireless network.
“The expectation of tenants and guests for innovative technologies in today’s competitive work environment is rapidly changing, and CrossLayer provides a solution to meet the needs of both tenants and property owners,” said Lynn Martin, President of CrossLayer. “At the same time, the CrossLayer network provides opportunities for property owners to generate incremental revenue by offering a host of new services enabled by our platform.”
The CrossLayer solution, initially brought to the market in late 2017, is a disruptive game-changer in terms of how building owners monetize their communication infrastructure. From exciting developments such as the deployment in Industry City, to becoming a key technology service provider to one of the largest global commercial real estate firms in the world, CrossLayer continues to enjoy incremental market share gains in this large and growing market. The recent partnership with Buttcon to enter the Canadian market with a minimum of 11 buildings on net also underscores the fact that this is a global opportunity.
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: “will,” “strategy,” “potentially,” “opportunity” and similar references to future periods. Examples of forward-looking statements in this release may include, without limitation, statements and forecasts regarding our ability to perform as anticipated, including the successful integration of our technology and services (both in this property and in other markets), the successful implementation of our 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.
For more information, please contact:
Corporate Contact:
Kirstin Gooldy
FTE Networks, Inc.
Phone: (877) 850-4308
Email: ir@ftenet.com
Investor Contact:
Ted Haberfield
MZ Group
Phone: (760) 755-2716
Email: thaberfield@mzgroup.us
Released September 12, 2018