FTE’s CrossLayer Adds to Midtown-West Property Portfolio of New York Buildings

FTE Networks (NYSEA:FTNW) announced that its subsidiary CrossLayer is growing its presence in New York with network installation at multi-tenant buildings.

As quoted in the press release:

“Throughout 2018, we have taken significant steps to create a large pipeline of opportunities for CrossLayer; this is desirable technology and the demand is significant. I am extremely excited to announce another CrossLayer contract award,” said Mr. Michael Palleschi, President and CEO of FTE Networks. “The continued market adoption and expansion of CrossLayer in the New York market and in other major metropolitan cities across the country supports our strategic vision to establish FTE as a tier-one technology and infrastructure company. We are pleased with the rapid expansion of CrossLayer, which serves as an important complement to our Fortune 100 infrastructure business. We expect this growth trend to continue both in the immediate and long term and we look forward to reporting solid quarterly earnings in the near-term.”

Implementation of CrossLayer™ at the 16-story building, which is located one block north of Penn Station, is expected to be completed in the fourth quarter of 2018. The property is adjacent to two additional buildings where CrossLayer’s edge compute platform is currently being installed.

CrossLayer will install and operate a direct fiber-to-wireless platform in the commercial property, and serve as a provider of data, internet, voice and advanced communications services. CrossLayer’s Campus Private Network will enable tenants to work anywhere securely without losing connectivity to their private wireless network.

“This new agreement demonstrates not only the strong acceptance of the CrossLayer™ network, but also the variety of commercial buildings to which our advanced platform delivers immediate benefits,” said Lynn Martin, President of CrossLayer. “Today’s workplace requires reliable, secure, high-speed data, and the ability of our network to meet this need while providing new revenue to property owners makes it a win-win for real estate developers and tenants.”

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