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NAPLES, Fla., June 05, 2018 (GLOBE NEWSWIRE) -- In a news release [https://www.cbre.us/about/media-center/technology-veteran-rick-varnell-joins-cbre] issued yesterday, one of the largest global commercial real estate firms included CrossLayer, an FTE Networks, Inc. subsidiary (NYSE American:FTNW), as one of its key technology service providers to bring advanced network solutions to hundreds of commercial buildings across the United States.
Commentary from Company executives:
“This technology partnership is a testament to how FTE is disrupting the “4th utility” by changing how buildings connect to the internet. By utilizing the CrossLayer technology to create smart buildings, the building owners stand to realize an incremental recurring revenue stream from the provisioning of the services. By providing enhanced services to tenants and an additional income stream to landlords, CrossLayer delivers a dynamic solution that both increases the marketability and enhances the value of commercial real estate. This technology partnership, with a worldwide commercial real estate firm, demonstrates the market leading technology and other solutions that FTE delivers to our clients. We’re looking forward to demonstrating how our technology solutions will help equip one of the largest commercial real estate portfolios.”
- Mr. Michael Palleschi, President and CEO of FTE Networks, Inc.
“An increasingly connected world requires the most advanced communications network to deliver speed and reliability to users wherever they choose to work within an office or campus environment. CrossLayer’s ultra-fast, highly secure network will enable tenants and guests to connect seamlessly, bringing the potential for greater productivity and collaboration for businesses with the ability to generate revenue for building owners.”
- Mr. Lynn Martin, President of CrossLayer
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.
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,” “looking forward,” “potential” and similar references to future periods. 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
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Released June 5, 2018