InterCloud Secures Purchase Orders for Software Defined Networking (SDN) Virtual Network Function Validation Services Valued ...
June 30 2016 - 7:55AM
InterCloud Systems, Inc. (Nasdaq:ICLD) a leading provider of cloud
networking orchestration and automation solutions and services,
announced today that it received over $4.0 million in purchase
orders since the beginning of 2016 for Software Defined Networking
(SDN) and Virtual Network Function (VNF) Validation services for a
Global networking company. The work involves SDN training,
SDN integration services and the utilization of InterCloud’s state
of the art, multi-vendor virtual network function validation
services platform, NFVGrid.
Mark Munro, CEO of InterCloud Systems stated: “This is one of
the most significant announcements InterCloud has ever released.
InterCloud is now an active participant in complex multi-vendor SDN
deployments. InterCloud is not only generating new revenue around
SDN and VNF validation but more importantly we are gaining
incredibly valuable experience and knowledge in this early stage
SDN market expansion. We believe this experience will give us a
competitive advantage as more carriers and enterprise customers
begin to migrate their networks to the virtualized world of
SDN.”
Mark Munro continued: “InterCloud is presently focused on the
process of VNF validation for Software Defined Networks. It is our
belief that this particular segment of the market will offer
InterCloud tremendous growth opportunities. Every single virtual
firewall, virtual router, virtual load balancer and other virtual
network functions must be validated on its own as well as in
complex multi-vendor use cases. InterCloud is one of the only
companies offering any automation in this arena and it is our
objective to be a market leader in this capability over the next
several years.”
Separately, InterCloud filed its 10Q for the first quarter of
2016. Total revenue for the first quarter of 2016, after
reflecting the sale of the data storage assets of the Company, was
over $17 Million and the Company balance sheet reflects over $25
Million in cash (between cash on hand and restricted cash).
Mr. Munro added: “We became current on our filings with our
10Q filing. Our first quarter was strong and our second
quarter has seen a steady influx of new business and revenue
growth. We are meeting or exceeding our goals of our business
segments and we expect to file our 10Q for the second quarter
timely.”
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a leading provider of cloud
networking orchestration and automation, for Software Defined
Networking (SDN) and Network Function Virtualization (NFV) cloud
environments to the telecommunications service provider (carrier)
and corporate enterprise markets through cloud solutions and
professional services. InterCloud's cloud solutions offer
enterprise and service-provider customers the opportunity to adopt
an operational expense model by outsourcing cloud deployment and
management to InterCloud rather than the capital expense model that
has dominated in recent decades in IT infrastructure management.
Additional information regarding InterCloud may be found on
InterCloud's website at www.intercloudsys.com.
Forward-looking statements:
The above news release contains forward-looking statements. The
statements contained in this document that are not statements of
historical fact, including but not limited to, statements
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"seek," "should," "will," "would," and other variations or negative
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expected market trends and the Company's performance, are all
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and involve a number of
risks and uncertainties. These statements are based on assumptions
that management believes are reasonable based on currently
available information, and include statements regarding the intent,
belief or current expectations of the Company and its management.
Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performances, and are
subject to a wide range of external factors, uncertainties,
business risks, and other risks identified in filings made by the
company with the Securities and Exchange Commission. Actual results
may differ materially from those indicated by such forward-looking
statements. The Company expressly disclaims any obligation or
undertaking to update or revise any forward-looking statement
contained herein to reflect any change in the company's
expectations with regard thereto or any change in events,
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except as required by applicable law and regulations.
CONTACT:
Investor Relations
InterCloud Systems, Inc.
561-988-1988
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