NAPLES, FL -- (Marketwired) -- 11/08/17 -- FTE Networks, Inc. (OTCQX: FTNW) and (OTCQX: FTNWD) ("FTE" or the "Company"), a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and buildings, today announced that CrossLayer™, a wholly owned subsidiary of FTE, completed its first installation of its patent-pending Compute-to-The-Edge Network technology in its Naples, Florida headquarters.
The Naples, Florida service center is installed with the capacity to serve the mixed-use retail and commercial facility. The installation will serve as a showcase for CrossLayer's new technology as it is adopted in the market. The new integrated network and cloud platform uses a combination of patent pending technology and an open source operating model.
CrossLayer™ provides key benefits to commercial real estate developers and their respective tenants. The technology platform provides REITs and developers with infrastructure for Smart Building conversion that allows them to automate building management systems, like HVAC and utilities, and support Internet devices. Further, it provides for the ability to enable building owners to experience and provide telecom carrier-like functionality with ultra-fast, highly secure data network with unlimited connections that they can own. CrossLayer™ will manage the network from sign-up to service.
"We are excited to demonstrate the capacity of our patent-pending CrossLayer™ technology showcased in our corporate headquarters. Our team has designed a network that brings unprecedented speed and efficiency to wireless networks, while offering significant savings. Our team is currently in the process of installing a second CrossLayer™ network which we expect to unveil in the fourth quarter 2017," said Michael Palleschi, President and CEO of FTE Networks.
Mr. Palleschi further states, "We believe that FTE Networks as a consolidated company has a distinct competitive advantage, as the Company operates three synergistic entities that have multiple lines of business that complement one another. These include the FTE Network Services which provides telecom and technology infrastructure services, CrossLayer, which provides managed network services and technology solutions, and Benchmark Builders, which offers general contracting services."
About FTE Networks, Inc.
FTE Networks, Inc. ("FTNW"), is a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and buildings. FTE's three complementary businesses are FTE Network Services, CrossLayer, Inc., and Benchmark Builders, Inc. Together they provide 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. FTE's 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 world's leading communications services providers. FTE Networks and its subsidiaries support multiple services, including Data Center Infrastructure, Fiber Optics, Wireless Integration, Network Engineering, Internet Service Provider, General Contracting Management and General Contracting. For more information, please visit www.ftenet.com.
About CrossLayer, Inc.
CrossLayer, a managed network services company with a new business model for connecting large-scale, state-of-the-art campuses and multi-use developments, delivers technology solutions via an advanced network and cloud platform, providing owners and developers with the control that comes with an owned-and-operated system. CrossLayer's purpose-built platform enables customers to introduce and deliver innovative services quickly that increase user satisfaction while creating monetization opportunities previously afforded only to network operators. Providing reduced capital and operating costs for customers, CrossLayer's managed network service solutions deliver the agility and flexibility to meet evolving technology advancements. A wholly owned subsidiary of FTE Networks, Inc., CrossLayer is headquartered in Naples, Florida. For more information, please visit www.CrossLayer.com.
Note on Forward-Looking Statements
This release may contain "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "expect," "believe," and similar references to future periods. Examples of forward-looking statements in this release may include, without limitation, statements we make regarding our future business and prospects; expected market opportunities; future products and services and the expected success of those products and services, and other matters that involve known or unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to differ materially from results expressed or implied by this release.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and market trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. These risk factors and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, our Form 10-K's, Form 10-Q's and Form 8-K's. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this update is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
ir@ftenet.com
OTCQX:FTNW and OTCQX:FTNWD
Source: FTE Networks, Inc.
Released November 8, 2017
