Agreement marks entrance into Arizona market; Company remains on pace for 30 buildings-on-net by year end 2018
NAPLES, Fla., Oct. 16, 2018 (GLOBE NEWSWIRE) — FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”), a leading provider of innovative technology solutions for smart platforms, network infrastructure and intelligent buildings, today announced that its subsidiary, CrossLayer, Inc., will install and manage its future-ready, edge compute platform in a multi-story, multi-tenant office building in the upscale Phoenix suburb of Scottsdale, Arizona.
The Mixed-Use Commercial Property, which is more than 80 percent leased and marks FTE’s entrance into the greater-Phoenix market, is located in a high-traffic area near retail and restaurants, and adjacent to the Scottsdale Airport. The CrossLayer™ edge compute platform will deliver new enhanced digital technology services to the building and its tenants.
“I am very pleased to announce yet another CrossLayer™ contract award and our expansion into the Arizona market. The compelling value proposition of the CrossLayer™ platform is leading to sales in new markets across the United States and this is a trend we expect to continue,” said Michael Palleschi, President and CEO of FTE Networks. “With our dedicated and expanded sales team, the pace of new contract wins is accelerating, and our pipeline is robust and growing. CrossLayer™ technology brings the prospect of multi-year, recurring revenue with increased gross margins which is a growth driver for our business.”
CrossLayer will install and operate a direct fiber-to-wireless platform in the property, and serve as a provider of data, internet, voice and advanced communications services. Additionally, CrossLayer’s Campus Private Network solution will enable tenants to work anywhere securely within the building, without losing connectivity to their private wireless network.
“We are seeing a rapid adoption of the CrossLayer™ platform which reinforces our belief that our new model for operating a data and voice network in commercial properties is the wave of the future,” said Lynn Martin, President of CrossLayer. “With our first-mover advantage and our strategic approach to national marketing and sales efforts, we are confident that owners and managers of all types of commercial properties will continue to select CrossLayer™ recognizing the advantages that the CrossLayer™ platform can deliver to their tenants – and to their bottom line.”
CrossLayer a division of CBFA Corporation is a managed network services company with a new business model for connecting large-scale, state-of-the-art campuses and multi-use developments.
CrossLayer delivers technology solutions via a single, software-driven, edge compute platform enabling property owners and developers to directly deliver cutting-edge technology solutions to tenants and guests that differentiates their properties and provides cost savings. This converged network allows tenants, vendors, building management systems and smart technologies to run over one integrated onsite fiber backbone.
About FTE Networks, Inc.
FTE Networks, Inc. (“FTE”) is a leading provider of innovation technology. We enable adaptive and efficient network connectivity solutions for smart platforms, network infrastructure and intelligent buildings. FTE provides end-to-end design, build, and support solutions for state-of-the-art networks, data centers, residential and commercial properties. We create transformative smart platforms and buildings. FTE’s services are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of leading-edge projects and services. The Company works with Fortune 100/500 companies, including some of the world’s leading Telecommunications and IT Services Providers as well as REITs and Media Providers.
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