NAPLES, FL--(Marketwired - October 19, 2016) - FTE Networks, Inc. (OTCQX: FTNW) ("FTE" or the "Company"), a leading network infrastructure solutions provider in the technology and communications vertical announced today it is expanding its current business, leveraging its expertise in fiber optics, data center infrastructure and wireless network solutions with new multi-edge computing services to enable new innovative technologies and applications that require extremely low latency and an enhanced user experience.
Michael Palleschi, Chairman and CEO of FTE Networks, commented, "The explosive growth of data usage powered by video and new technologies such as augmented reality, 4K, 8K, and 360 video, along with the overlay of social media enriched experiences are causing significant strain on the capacity of today's networks creating the evolution in our industry to multi-edge computing. In the next year along, FTE anticipates multi-edge computing will be a several billion dollar market where we are well positioned to capture a significant share based on early market entry of our first in kind platform solution."
"Today's networks were built to support millions, but they need to connect billions," Mike Bonewitz, CTO with FTE Networks said. "This rapidly evolving need is causing a significant paradigm shift in terms of how communications networks are designed, developed and managed in order to meet the new data curve. The network going forward must be agile in nature to meet advancing technology requirements and deliver new services quickly to meet the demands of customers now and in the future."
Iain Gillott, Founder and President of iGR, a market research consultancy focused on the wireless and mobile industry, added, "For mobile networks to meet the performance goals that will be required by tomorrow's consumers, network architectures must change. Simply, more application processing must take place at the edge of the network and more content must be cached closer to the end user. This means that every cell site, every data center and every enterprise is potentially a location for edge computing to support the future mobile network."
FTE's new platform was built to deliver the following features and benefits:
- An agile, automated and accelerated service creation platform that embraces an open source operating model.
- A distributed software-based network service using commodity, multipurpose hardware supporting modern cloud and multi-access network services.
Mike Bonewitz, added, "The new platform provides a lower capital model for networks and broader service capabilities. Hosting applications at the edge can dramatically reduce access costs. In addition, the platform eliminates the need for multiple independent layers of hardware along with the complexity and cost of operating them independently."
Initially targeting real estate investment trusts (REITs), carriers, government, and enterprise sectors with its new multi-edge services, the solution architecture has been under development for the past several months. A prototype is now available with live lab and commercial edge data center environments expected to begin in early 2017.
About FTE Networks, Inc.
FTE Networks is on the leading edge of network transformation helping communications service providers, government and enterprise customers evolve their networks to meet advancing technology requirements via network infrastructure, and edge computing solutions to quickly enhance service innovation and deliver new revenue streams. With a focus on smart design, open architectures and consistent standards, along with expertise in building, operating, and maintaining networks, FTE solves complex network and system challenges that reduce costs and deployment time to accelerate delivery and optimize performance of network infrastructure. Operating five (5) industry segments; Data Center Infrastructure, Fiber Optics, Wireless Integration, Network Engineering, and Compute to the Edge, FTE Networks is headquartered in Naples, Florida, with offices throughout the United States and Europe. For more information, please visit: www.ftenet.com.
Forward Looking Statements
This release may contain forward-looking statements relating to the business of FTE. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. 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. Forward-looking statements are based on FTE's current expectations and beliefs concerning future developments and their potential effects on FTE. 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 as a result of new information, future events or otherwise, except as required under applicable securities laws.