NAPLES, FL--(Marketwired - August 31, 2016) - FTE Networks, Inc. (OTCQX: FTNW) ("FTE" or the "Company"), a leading network infrastructure solutions provider for the technology and communications industries, today announced that the Company is expanding into the government sector, providing technology and communications solutions to support the U.S. Government federal, state and local agencies.
The purpose of the municipal division is to execute FTE's existing services and solutions in support of Government specific projects. Mr. John Wood will serve as President of Government Operations and lead the expansion of the Government vertical. The expansion into the Government vertical will also enhance FTE's ability to serve their core customers as the Government sector provides an enabling function across all critical infrastructure throughout the U.S.
Mr. Michael Palleschi, FTE Networks (FTNW) Chairman and Chief Executive Officer, commented, "We are continuing to accelerate growth and transform FTE into a comprehensive solutions provider in the technology and communications vertical. FTE will be able to take the aspects learned from these projects and apply the best practices throughout the organization enabling the company to accelerate and transform into a more disruptive company. We are confident that this new division will increase our already strong revenue base while bolstering our position as an emerging market leader."
"The Government vertical is a critical and integral component requiring experienced network architecture design and deployment. It provides an enabling function across all critical infrastructure sectors, which creates interoperability within networks throughout the country. With FTE's vast experience, customized solutions and speed to market we will be able to support Government agencies in engineering, design, deployment and maintenance support. The expansion into the Government vertical allows us to support and grow all of our lines of business including, telecom, engineering and wireless and wireline," said Mr. Wood. "Most importantly, it will allow us to further develop our security and surveillance lines of business."
About FTE Networks, Inc.
FTE Networks, Inc. (FTNW), and its wholly owned subsidiaries, is a leading international networking infrastructure solutions company. We design, build, and support telecommunications and technology systems and infrastructure services for companies including Fortune 500 operating four (4) industry segments; Data Center Infrastructure, Fiber Optics, Wireless Integration, and Surveillance & Security. 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.