ADDvantage Technologies’ Service Subsidiary Executes Agreements with Leading Optical Communications OEMs
October 13 2023 - 9:00AM
ADDvantage Technologies Group, Inc. (NASDAQ: AEY) (“ADDvantage
Technologies” or the “Company”) today announced that wholly owned
subsidiary, Fulton Technologies (“Fulton”) Inc., has executed new
multi-year agreements with some of the largest optical
communications OEMs in the United States. Under the new agreements,
the Broadband division of Fulton Technologies is now authorized to
provide fiber design, engineering, and construction services
throughout the United States.
Since announcing the expansion of Broadband
services provided by Fulton at the end of June, the Company
continues to work aggressively in serving the needs of carriers to
expand broadband services to both unserved and underserved
populations. These new agreements will provide opportunities to
improve upon legacy deployment methods via additional training,
education, and technology improvements.
“Working directly with broadband service
providers is vital to understanding design considerations,
technology decisions, and deployment timelines,” commented Brian
Davidson, Chief Revenue Officer of ADDvantage Technologies. “Our
collective push as a business to also align with manufacturers in
this space provides additional value to our customers. We see
numerous benefits in promoting a healthy relationship between all
the parties involved in the deployment supply chain.”
Carl Morin, VP Broadband Deployment from Fulton
Technologies stated, “Our strategic approach to working with some
of the largest manufacturers in the fiber deployment space will
provide long-term recurring value. Improving field metrics and
response times are always front and center, but our approach to
working collaboratively with all parties involved in the supply
chain will ensure high customer success. We are very focused on
‘customer satisfaction’ ratings and these new agreements will
support our efforts.”
The future of America depends on universal and
reliable connectivity. With the enactment of the federal $1.2
trillion Infrastructure Investment and Jobs Act (IIJA), resources
are becoming available to deploy broadband infrastructure to help
close the digital divide. The IIJA provides the single largest
one-time federal broadband investment in history with over $65
billion in funding. Prior to the IIJA, the Rural Digital Operating
Fund (RDOF) was enacted to disburse up to $20.4 billion in two
phases over 10 years. The combined commitment of these two national
programs will have a positive impact in bringing fixed broadband to
millions of homes and businesses across the country.
About ADDvantage Technologies Group,
Inc.
ADDvantage Technologies Group, Inc. (Nasdaq:
AEY) is a communications infrastructure services and equipment
provider operating a diversified group of companies through its
Wireless Infrastructure Services and Telecommunications segments.
Through its Wireless segment, Fulton Technologies provides turn-key
wireless infrastructure services including the installation,
modification and upgrading of equipment on communication towers and
small cell sites for wireless carriers, national integrators, tower
owners and major equipment manufacturers. Through its
Telecommunications segment, Nave Communications and Triton Datacom
sell equipment and hardware used to acquire, distribute, and
protect the communications signals carried on fiber optic, coaxial
cable and wireless distribution systems. The Telecommunications
segment also offers repair services focused on telecommunication
equipment and recycling surplus and related obsolete
telecommunications equipment.
ADDvantage operates through its subsidiaries,
Fulton Technologies, Nave Communications, and Triton Datacom. For
more information, please visit the corporate website at
www.addvantagetechnologies.com.
Cautions Regarding Forward-Looking
Statements
The information in this announcement may include
forward-looking statements. All statements, other than statements
of historical facts, which address activities, events or
developments that the Company expects or anticipates will or may
occur in the future, are forward-looking statements. These
statements are subject to risks and uncertainties, which could
cause actual results and developments to differ materially from
these statements. A complete discussion of these risks and
uncertainties is contained in the Company’s reports and documents
filed from time to time with the Securities and Exchange
Commission.
For further information: Hayden IR Brett Maas (646) 536-7331
aey@haydenir.com
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