ADDvantage Technologies Telecom Services Company Broadens Service Offering to Support Federal Broadband Deployment and Investment
June 28 2023 - 8:00AM
ADDvantage Technologies Group, Inc. (NASDAQ: AEY) (“ADDvantage
Technologies” or the “Company”) today announced that wholly owned
subsidiary, Fulton Technologies (“Fulton”) Inc., is expanding its
operation and value-added services to the deployment of fiber
broadband connectivity.
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.
Fulton Technologies’ management team has a long
history of fiber engineering and deployment of Outside Plant
Services (OSP). Fulton has been operating for over 30 years and
recognized the need to deploy quality expertise and resources to
support broadband network buildouts. Experience and safety are
paramount to the operation of any new network and Fulton is
fortunate to build upon its OSP heritage.
“Our team has been working tirelessly over the
last few months to assist existing customers and many new entrants
into the space to design and engineer their networks,” commented
Brian Davidson, CRO of ADDvantage Technologies. “Many existing
internet providers and operators are evolving their businesses to
support customers in more remote and smaller markets. The
insatiable demand for data is more important today than ever
before, as reliable, and affordable broadband is a requirement for
full participation in society and new job
opportunities.”
“Our company is taking more of a consultative
approach to assisting operators and providers,” continued Davidson.
“While providing turnkey services is compelling, our approach
offers customers a ‘partner’ in which to deploy their networks the
most cost-effectively and efficiently. I’m proud to also announce
that Walter Rhinehart has joined our team as Vice-President of
Broadband Solutions. Walter has had a long career of success with
telecom Outside Plant Networks and will play an integral role in
helping to define unique value-added services in our overall
broadband solution.”
Fulton is planning to leverage much of its
current infrastructure and resources to take advantage of
synergies. They are also working alongside their own vast national
network of vendor partners to deploy services. As the Company
enters into new agreements additional details will be released
and/or disclosed on their company website or via future press
releases.
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 IRBrett Maas(646)
536-7331aey@haydenir.com
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