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FTE Networks' CrossLayer™ Announces Expansion into Chicago Market with New Contract Win

CrossLayer to install and manage edge compute, in-building network enabling smart building features in skyscraper located in city’s central business district

NAPLES, Fla., Sept. 20, 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 technology segment subsidiary, CrossLayer, Inc., has signed an agreement to install its advanced in-building data network and provide a full suite of communications services to a 31-story office tower in Chicago’s central business district. 

“We are very pleased to announce yet another CrossLayer contract win that establishes our strategic foothold in the Chicago market. This award highlights our continued expansion and progress toward our goal of bringing 30 buildings on-net by the end of the year,” said Mr. Michael Palleschi, President and CEO of FTE Networks. “The adoption of CrossLayer is accelerating in major U.S. markets as more property owners learn that a new option exists for a better data network that supports more services while also offering incremental revenue opportunities.  We are excited to enter the Chicago market, and support our nationwide expansion into major metropolitan cities.”

Under the terms of the agreement, FTE will install and operate a direct fiber-to-wireless platform throughout the 31-story office tower, and will serve as a provider of data, internet, and voice services. Additionally, the CrossLayer Campus Connect feature will enable tenants to work anywhere securely within their facility wirelessly, without losing connectivity to their private network.  FTE expects to begin work on the implementation in early Q4 2018.

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,” “expects,” “goal,” 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 implementation and integration of our technology and services in this new market, the successful execution 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

Investor Contact:
Ted Haberfield 
MZ Group
Phone: (760) 755-2716


Source: FTE Networks, Inc.

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