AGREEMENT ADDS TO GROWING PORTFOLIO OF NEW YORK BUILDINGS THAT WILL FEATURE INNOVATIVE DATA NETWORK DEVELOPED AND INSTALLED BY CROSSLAYER
NAPLES, Fla., Dec. 11, 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., has signed an agreement to install the company’s advanced data network in two multi-tenant office buildings in Midtown Manhattan. The CrossLayer edge compute platform delivers new digital technology services to tenants, while generating an ongoing revenue stream to building owners/managers.
The two buildings include a modern 40-story office tower located near well-known landmarks, including Grand Central Station and Rockefeller Center, and a 15-story pre-war building with an enviable Garment District address. CrossLayer will install and operate a direct fiber-to-wireless platform in the two buildings, and serve as a provider of data, internet, voice and advanced communications services.
“The strong and continued momentum of installations of the CrossLayer™ network reflects the significant value proposition that it delivers to both property owners and their tenants,” said Mr. Michael Palleschi, President and CEO of FTE Networks. “Each installation will also generate revenue for both the property owner and for FTE, and we’re pleased with the current rate of growth as we work toward our goal of having 30 buildings on-net by year-end.”
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. (“FTNW”) is a leading provider of innovation technology. We enable adaptive and efficient smart network connectivity platforms, infrastructure and 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.