InterCloud’s Netlayer.io Software Platform to be Business Focus in 2018
SHREWSBURY, N.J., March 16, 2018 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (OTC:ICLDD), a provider of cloud networking orchestration and automation solutions and services, announced that the business focus in 2018 and beyond will be centered around the Netlayer.io software platform. Netlayer.io provides orchestration and day two monitoring functions for next-gen SDN virtualized networking environments. Netlayer’s network performance enhancing functionality were presented at the Computer Associates World convention that took place in Las Vegas in November 2017.
Separately the Company disclosed the filing of an S-8 registration statement in order to address outstanding invoices from various legal counsel retained by the Company.
Mark Munro, CEO of InterCloud Systems, stated, "Our Netlayer.io team is working on building several new partnerships for the platform. The immediate revenue pipeline of opportunities is in excess of $2M and expected to continue to grow. This potential revenue would be received over several years in several forms, including license agreements. While the sales process is a long one, the revenues from this platform are recurring and long term. Our technology team is excited about the progress we have made over the past year. Our SD-WAN functionality coupled with our virtualized networking orchestration has created new opportunities in the Tier 2 and Tier 3 carrier market. We are very enthusiastic about 2018 and the momentum we have created. In order to be able to focus on building this platform and supporting the Netlayer partnerships, we filed an S-8 registration statement to be able to utilize our stock to pay outstanding professional fees owed.”
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.
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
InterCloud Systems, Inc.