InterCloud Systems Awarded Over $1.2 Million in New Contracts and Purchase Orders

SHREWSBURY, N.J., Oct. 02, 2017 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (OTC:ICLD), a leading provider of network solutions and services, today announced that it was recently awarded new contracts from  new and existing customers valued at over $1.2 Million.  In addition, the Company’s subsidiaries have begun to receive purchase orders for hurricane repair efforts in Florida and expect to receive additional purchase orders for Texas with local service providers. 

Mark Munro, CEO of InterCloud Systems stated, “The hurricane telecom rebuilding projects have started to move forward now that the engineers can get to the sites in the damaged areas. Our teams have a tremendous amount of experience in disaster work efforts. During 2005 and for several years thereafter, our telecom services division reported approximately $55 million of billings related to Hurricane Katrina alone. The divisional managers have been preparing for larger scale deployments as waters recede and work crews are able to be deployed. In addition, we have provisionally reached a settlement agreement on our legacy class action lawsuits that we expect will be closed by year end. Lastly, it is our expectation that we can restructure our remaining debt during the fourth quarter of 2017. We have been diligently working on a plan to move forward and rebuild shareholder value and company momentum.”

About InterCloud Systems, Inc.

InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud's cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud's website at www.intercloudsys.com.

Forward-looking statements:

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InterCloud Systems, Inc. 
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Source: InterCloud Systems, Inc.