FTE Expands Its Business with Launch of Network Service
Platform Powered by Compute to the Edge
First Of-its-Kind Platform Offers Lower Capital Model,
Better Network Performance & Annuity-Based Revenue
Model
NAPLES, FL-- (October 18, 2016) - FTE Networks, Inc.
(OTCQX:FTNW)
("FTE" or the "Company"), a leading network infrastructure
solutions provider in the technology and communications vertical
announced today it is expanding its current business, leveraging
its expertise in fiber optics, data center infrastructure and
wireless network solutions with new multi-edge computing services
to enable new innovative technologies and applications that require
extremely low latency and an enhanced user experience.
Michael Palleschi, Chairman and CEO of FTE Networks, commented,
The explosive growth of data usage powered by video and new
technologies such as augmented reality, 4K, 8K, and 360 video,
along with the overlay of social media enriched experiences are
causing significant strain on the capacity of todays networks
creating the evolution in our industry to multi-edge computing. In
the next year along, FTE anticipates multi-edge computing will be a
several billion dollar market where we are well positioned to
capture a significant share based on early market entry of our
first in kind platform solution.
Todays networks were built to support millions, but they need to
connect billions, Mike Bonewitz, CTO with FTE Networks said. This
rapidly evolving need is causing a significant paradigm shift in
terms of how communications networks are designed, developed and
managed in order to meet the new data curve. The network
going forward must be agile in nature to meet advancing technology
requirements and deliver new services quickly to meet the demands
of customers now and in the future.
Iain Gillott, Founder and President of iGR, a market research
consultancy focused on the wireless and mobile industry, added, For
mobile networks to meet the performance goals that will be required
by tomorrows consumers, network architectures must change. Simply,
more application processing must take place at the edge of the
network and more content must be cached closer to the end user.
This means that every cell site, every data center and every
enterprise is potentially a location for edge computing to support
the future mobile network.
FTEs new platform was built to deliver the following features
and benefits:
An agile, automated and
accelerated service creation platform that embraces an open source
operating model.
A distributed software-based
network service using commodity, multipurpose hardware
supporting modern cloud and multi-access network services.
Mike Bonewitz, added, The new platform provides a lower capital
model for networks and broader service capabilities. Hosting
applications at the edge can dramatically reduce access costs. In
addition, the platform eliminates the need for multiple independent
layers of hardware along with the complexity and cost of operating
them independently.
Initially targeting real estate investment trusts (REITs),
carriers, government, and enterprise sectors with its new
multi-edge services, the solution architecture has been under
development for the past several months. A prototype is now
available with live lab and commercial edge data center
environments expected to begin in early 2017.
About FTE Networks, Inc.
FTE Networks is on the leading edge of network transformation
helping communications service providers, government and enterprise
customers evolve their networks to meet advancing technology
requirements via network infrastructure, and edge computing
solutions to quickly enhance service innovation and deliver new
revenue streams. With a focus on smart design, open architectures
and consistent standards, along with expertise in building,
operating, and maintaining networks, FTE solves complex network and
system challenges that reduce costs and deployment time to
accelerate delivery and optimize performance of network
infrastructure. Operating five (5) industry segments; Data Center
Infrastructure, Fiber Optics, Wireless Integration, Network
Engineering, and Compute to the Edge, FTE Networks is headquartered
in Naples, Florida, with offices throughout the United States and
Europe. For more information, please visit: www.ftenet.com.
Forward Looking Statements
This release may contain forward-looking statements relating to
the business of FTE. All statements other than historical facts are
forward-looking statements, which can be identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions. These statements involve risks and
uncertainties that may cause actual results to differ materially
from those anticipated, believed, estimated or expected. These
risks and uncertainties are described in detail in our filings with
the Securities and Exchange Commission. Forward-looking statements
are based on FTE's current expectations and beliefs concerning
future developments and their potential effects on FTE. There is no
assurance that future developments affecting FTE will be those
anticipated by FTE. FTE undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required
under applicable securities laws.
Contacts:
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
ir@ftenet.com
OTCQX:FTNW
Investor Relations:
Natalya Rudman
Crescendo Communications, LLC
(212) 671-1020, Ext: 304
ftnw@crescendo-ir.com