NAPLES, FL--(Marketwired - October 12, 2016) - FTE Networks, Inc. (OTCQX: FTNW) ("FTE" or the "Company"), a leading network infrastructure solutions provider in the technology and communications vertical, today announced that it is expanding its infrastructure deployment services to Atlanta. Initiated by a $0.5 million contract with a major ISP for fiber and broadband services development in market, FTE's expansion to Atlanta creates new business opportunities for its traditional services.
With several large telecom service providers and major ISPs building fiber networks in Atlanta, FTE's presence in this market adds pipeline growth capability estimating its current deal valued at $1-2M in 2017 and an anticipated total pipeline opportunity value of $10-$15 million through 2020.
Anthony Sirotka, Chief Business Development Officer of FTE Networks (FTNW), commented, "We continue to expand our customer base, as enterprise customers as well as regional and national data and telecom providers recognize both our value proposition and solid track record. There continues to be an increase in demand for bandwidth, which drives fiber optic development. This expansion of our presence in Georgia allows us to broaden and solidify our footprint throughout the southeast."
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.