PALM BEACH, Florida, August 28, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
As the world becomes ever more digitally and globally connected, industries are experiencing an Information and Telecommunications driven transformation while the market for industry digitalization is only just beginning. With the introduction of new and innovative IT and Telecommunication technologies, increase competition and recent regulatory changes are presenting a healthy amount of choices for consumers, businesses and new developments to choose from. According to Statista.com, the telecommunication services market alone, which includes fixed-network services, had a value of around $1.4 Trillion U.S. dollars in 2017, and is forecast to grow to almost $1.46 Trillion U.S. dollars in size by 2020. As far as the IT services market, Statista reported in 2018, spending on IT services is expected to amount to around $1 Trillion U.S. dollars worldwide. The IT services market encompasses the range of services that assist individuals and enterprises in implementing, managing, and operating the wide variety of processes, systems, software, equipment, and peripherals that are used in the modern IT environment. Active tech companies in the markets this week include FTE Networks, Inc. (NYSE: FTNW), AT&T Inc. (NYSE: T), VEON Ltd. (NASDAQ: VEON), Cisco (NASDAQ: CSCO), GTT Communications, Inc. (NYSE: GTT).
FTE Networks, Inc. (NYSE American: FTNW) BREAKING NEWS: FTE Networks, a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and intelligent buildings, today announced its subsidiary, CrossLayer, Inc., will be working with Buttcon Holdings Limited, an Ontario, Canada-based construction company, to present CrossLayer as the preferred technology partner for Buttcon's family of businesses, marking CrossLayer's entry into the Canadian market. Buttcon is one of the 25 largest contractors in Canada, according to On-Site magazine, Canada's leading publication serving the commercial construction industry.
Buttcon will present CrossLayer as the preferred technology partner for Buttcon's family of businesses, marking CrossLayer's entry into the Canadian market. The proposal calls for CrossLayer to utilize Buttcon's construction services for installation and deployment of fiber, conduit and equipment required to deliver on CrossLayer services in Buttcon sourced buildings in the Province of Ontario, the most populous province in the country. Buttcon will also be designated as the exclusive provider of remote/on-site service support for all commercial, institutional, industrial, and residential properties utilizing CrossLayer services in Ontario.
"I am extremely excited about partnering with Buttcon. This represents a great strategic relationship with a high-quality, customer-focused company, and our first international expansion of the CrossLayer platform," said Michael Palleschi, President and CEO of FTE Networks. "CrossLayer's compute-to-the-edge technology solution is rapidly gaining traction in the U.S., and we're looking forward to expanding our footprint in the growing Ontario region.
This alliance and the numerous opportunities it brings to CrossLayer will add additional buildings to the portfolio of buildings that utilize our compute to the edge technology and further strengthen our stated objectives of having at least 30 buildings on-net by year end 2018."
"This new business relationship is not just a win-win for Buttcon and CrossLayer, but also a win-win for property owners and their tenants," said Michael A. Butt, P.Eng., Chairman, CEO and Director of Buttcon. "The CrossLayer advanced data network is a significant differentiator for commercial property owners and developers looking to attract a dynamic workforce that requires always-on connectivity wherever they work across a campus." Read this and more news for FTNW at http://www.marketnewsupdates.com/news/ftnw.html
Other recent developments in the tech industry include:
AT&T Inc. (NYSE: T) News: At AT&T, we've invested nearly $120 million in our Iowa wireless and wired networks during 2015-2017. These investments boost reliability, coverage, speed and overall performance for residents and businesses. They also improve critical services that support public safety and first responders. In 2017 we made more than 365 network enhancements across Iowa, including new cell sites, the addition of network capacity and network upgrades. "Whether it's streamlined rules to simplify and speed the deployment of wireless facilities or being one of the first states in the nation to opt-in to the FirstNet broadband network for first responders, Iowa has aggressively embraced policy to encourage continuous investment in mobile broadband infrastructure across the state," said Gov. Kim Reynolds. "Today's policies will pave the way for 5G mobile services in the years ahead and position Iowa for a prosperous economic future."
VEON Ltd . (NASDAQ: VEON), a leading global provider of connectivity and internet services headquartered in Amsterdam and serving more than 240 million customers, this month announced financial and operating results for the quarter ended 30 June 2018. "In the second quarter, we delivered strong operating results in our largest and most important geographies and made progress in refining our strategic framework for growth. We took decisive action to sharpen VEON's focus on the emerging markets and streamline our headquarters operations, while maintaining robust compliance and internal controls and continuing our focus on our digital core offerings. These steps will allow us to grow in these key markets by delivering a locally relevant offering to the benefit of our customers, employees and shareholders. The board and senior management team are focused on executing against this strategic framework and driving value for all of our stakeholders." Read the full financial report here
Cisco (NASDAQ: CSCO) this month announced its intent to acquire privately-held Duo Security, headquartered in Ann Arbor, Mich. Duo Security is the leading provider of unified access security and multi-factor authentication delivered through the cloud. Duo Security's solution verifies the identity of users and the health of their devices before granting them access to applications - helping prevent cybersecurity breaches. Integration of Cisco's network, device and cloud security platforms with Duo Security's zero-trust authentication and access products will enable Cisco customers to easily and securely connect users to any application on any networked device. Under the terms of the agreement, Cisco will pay $2.35 billion in cash and assumed equity awards for Duo Security's outstanding shares, warrants and equity incentives on a fully-diluted basis.
GTT Communications, Inc. (NYSE: GTT), the leading global cloud networking provider to multinational clients, recently announced an updated division structure following the acquisition of Interoute. GTT appointed Martin Ford as UK division president, with responsibility for clients in the UK and Ireland in addition to the Middle East, Africa and Asia-Pacific. Mr. Ford previously served as GTT's EMEA division president. Prior to GTT, Mr. Ford held a broad range of leadership roles with Hibernia Networks and Level 3. GTT announced Jesper Aagaard as Europe division president, with responsibility for clients in continental Europe. Mr. Aagaard was formerly managing director of Interoute in the Nordics and Netherlands. Prior to Interoute, Mr. Aagaard was CEO of Comendo Network in Denmark.
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