FTE NETWORKS EXECUTES THREE MASTER SERVICE AGREEMENTS WITH
MULTIBILLION DOLLAR CORPORATIONS
Company continues expansion by growing Denver market presence
with these agreements
NAPLES, Fla. (June 21, 2017) FTE Networks, Inc. -
InvestorsHub NewsWire - (OTCQX: FTNW) (FTE or the Company), a
leading network infrastructure solutions provider in the technology
and communications industries, today announced that it has secured
master services agreements (MSAs) with three multibillion-dollar
telecommunications network integrators to support fiber network and
inside plant build-outs in the Denver market. One MSA is new and
two are expanding under existing MSAs. These agreements extend the
Companys footprint in the Denver region, strengthen its regional
dominance, and add to the Companys ISP (inside plant) line of
business, which is the Companys higher-margin operation.
Two of the network integrators are multibillion-dollar U.S.
corporations that provide infrastructure for broadcasting, mobile
telephones, and wireless broadband including small cell,
traditional cell sites, rooftop sites and indoor/outdoor
distributed antenna systems. They provide mobile telephone coverage
to all of the top 100 markets in the U.S. on behalf of service
providers such as Verizon, AT&T Mobility, Sprint, and T-Mobile.
The other corporation is a global telecommunications company that
has been in operation for more than 140 years and has customers in
over 180 countries.
Highlights of FTEs Recent Wins
- FTE Network continues to expand its reach in the Denver
market
- Executes three MSAs
- All projects are located in Denver and its surrounding
area
These MSAs strengthen the six-month backlog of $234MM that FTE,
combined with its recently acquired subsidiary, Benchmark Builders,
Inc. (Benchmark), had as of June 2, 2017.
We are delighted to continue our expansion in Denver, one of
many markets where we have achieved a leading market position, said
Michael Palleschi, chairman and CEO of FTE. These agreements
underscore our industry reputation and customer confidence in our
experience, expertise, and ability to deliver timely services
within budget limitations. In addition to potentially providing
significant revenue, these MSAs also strengthen our existing
relationship with three leading network integrators. With our
current momentum and recently closed acquisition of Benchmark, we
expect to be well-positioned for an uplisting to a major exchange
in the near future.
About FTE Networks, Inc.
FTE Networks, Inc. (FTNW) is a leading network infrastructure
solutions provider to the technology and communications sectors.
FTEs three complementary businesses are: FTE Networks Services
(network infrastructure solutions); CrossLayer, Inc. (managed
network services with first-of-its-kind advanced network and cloud
platform); and Benchmark Builders, Inc. (construction management),
which provides end-to-end design, build and support solutions for
state-of-the-art networks and commercial properties to create the
most transformative smart platforms and buildings. FTEs businesses
are predicated on smart design and consistent standards that reduce
deployment costs and accelerate delivery of innovative projects and
services. The company works with Fortune 100/500 companies,
including some of the worlds leading communications services
providers. FTE Networks and its subsidiaries operate eight lines of
business, including Data Center Infrastructure, Fiber Optics,
Wireless Integration, Network Engineering, Internet Service
Provider, Construction Management, General Contracting and
Pre-Construction Services. With approximately 200+ employees, FTE
and its entities have operations in 17 states. For more
information, please visit www.ftenet.com.
Forward-Looking Statements
This release may contain forward-looking statements, relating to
the business of FTE, within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Statements other than historical facts are forward-looking
statements, which can be identified by the use of words such as:
"potentially," believes," "expect," "opportunity," "strategy,"
"upcoming," "intend," "plan" and similar expressions and/or
references to future periods.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
FTE's current expectations, beliefs and assumptions regarding
future developments and their potential effects on FTE. 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. Furthermore, 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 written or oral, that may be
made from time-to-time, whether as a result of new information,
future events, or otherwise, except as required under applicable
securities laws.
Media and Investor Relations:
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
ir@ftenet.com
OTCQX: FTNW